Prospero Silver (PSL-V) Aug 8, '16 is pleased to announce that it will undertake a non-brokered private placement of up to 8.25 million units at a price of $0.20 per Unit, for gross proceeds of up to $1,650,000. Each Unit will consist of one common share and one non-transferable common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional Share at an exercise price of $0.30 per Share for a term of 3 years, subject to an acceleration provision under which, if at any time from four months and one day after the closing of the Offering, the volume weighted average trading price of Prospero's common shares on the TSX Venture Exchange over a period of 20 consecutive trading days exceeds $0.60, Prospero may, within five days of such event, provide notice (the "Notice") to the holders of the Warrants that the Warrants will expire on the date which is 30 calendar days after the date of the Notice. A finder's fee or commission may be paid on part of the Offering.
The net proceeds from the Offering will be used by Prospero to advance Prospero's existing project portfolio to drill-ready status, to expand the project portfolio by possible new acquisitions, and for general working capital purposes. Strategic joint ventures will also be sought.
All securities issued in connection with the Offering will be subject to a hold period expiring four months and one day following the closing of the Offering.
This proposed Offering is subject to the acceptance of the TSX Venture Exchange.
About Prospero Silver Corp.:
Prospero is a Mexico-focused project generator listed on the TSX.V under the symbol PSL.V. Prospero's aim is to discover world-class precious metal projects in the major mineral belts of Mexico. The Company applies a unique blend of practical exploration experience, cutting-edge mineral deposit science, and an extensive knowledge of Mexico's geology to find new gold and silver systems. Our exploration programs are run by a small but highly-focused geological team based in Mexico.
William Murray
Chairman
604-288-7813
prosperosilver.com |
