Core Silver closes $4.5 million private placement offering

Core Silver Corp. (CSE:CC)(FSE:5RJ)(OTCQB: CCOOF) completed a non-brokered private placement offering, issuing 6 million flow-through units at $0.75 per unit for gross proceeds of $4.5 million.

Each unit consists of one flow-through common share and one warrant. The warrants are exercisable at $0.85 per share for 24 months from the closing date. The flow-through shares qualify under Canada's Income Tax Act subsection 66(15).

The offering was conducted under the listed issuer financing exemption pursuant to National Instrument 45-106. Securities issued under this exemption are not subject to hold periods under Canadian securities laws.

Core Silver will use the proceeds to advance exploration of its Blue Property in Atlin, British Columbia. The funds will be allocated to exploration expenses qualifying as Canadian exploration expenses and flow-through critical mineral mining expenditures under the Income Tax Act. The company must incur these expenses by December 31, 2026, and renounce them to subscribers by December 31, 2025.

The Blue Property covers 114,074 hectares in the Atlin Mining District. The property includes the Llewellyn Fault Zone, a 140-kilometer structural feature extending from Yukon's Tally-Ho Shear Zone south through the Blue Property to Alaska's Juneau Ice Sheet.

Core Silver is a Canadian mineral exploration company focused on acquiring and developing mineral projects in British Columbia. The company holds 100% ownership of the Blue Property, located in territory of the Taku River Tlingit First Nation and the Carcross/Tagish First Nation.

You May Also Be Interested In