Original News Release
Mercado Minerals closes $5.59-million private placement
Mr. Daniel Rodriguez reports
MERCADO MINERALS CLOSES PRIVATE PLACEMENT AND WELCOMES VIZSLA SILVER AS A STRATEGIC SHAREHOLDER
Mercado Minerals Ltd. has closed its non-brokered private placement financing. In connection with closing of the offering, the company issued 27.99 million units at a price of 20 cents per unit for gross proceeds of $5,598,000. The offering included participation and a strategic investment from Vizsla Silver Corp. in Mercado.
Daniel Rodriguez, chief executive officer and director, commented: "We received overwhelming support in this financing, and I am excited to start advancing Copalito and Zamora as we strive to become a premier explorer focused on the underexplored western margin of the Sierra Madre. I would like to welcome Vizsla as a shareholder and I am looking forward to their support as we grow."
Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant is exercisable by the holder thereof to acquire one common share at a price of 35 cents until Nov. 28, 2028.
Finders' fees of $218,400 were paid in cash and 1,074,500 finders' warrants were issued to certain eligible parties. Each finder's warrant is exercisable at 35 cents until Nov. 28, 2028. All securities issued with respect to the offering are subject to a four-month-and-one-day hold period expiring on March 29, 2026.
Proceeds from the offering will be allocated towards several initiatives, including exploration of the recently acquired properties, Copalito and Zamora, acquisition costs, the generation of new project acquisitions, investor relations programs, as well as general corporate working capital.
About Mercado Minerals Ltd.
Mercado Minerals is a company involved in the business of acquiring and exploring mineral properties in the Americas. Mercado has been primarily involved in the exploration and evaluation of the Porter property, located within the Alberni mining divisions of British Columbia.
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