Prince Silver arranges $3-million private placement

Executive Summary

• Prince Silver Corp. has arranged a non-brokered private placement of up to 4,687,500 units at $0.70 per unit, raising up to $3.0 million in gross proceeds.
• Each unit consists of one common share and one-half common share purchase warrant, with warrants exercisable at $1.00 per share for 24 months.
• Net proceeds are intended for exploration and development of the Prince Silver project in Nevada, as well as working capital and general corporate purposes.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 4,687,500 units.
• Price Per Unit: $0.70 CAD.
• Gross Proceeds: Up to $3,000,000 CAD.
• Warrant Terms:
  • Each unit includes one-half (0.5) common share purchase warrant.
  • Exercise Price: $1.00 per common share.
  • Duration: 24 months from issuance.
  • Acceleration Clause: If the closing price of common shares is $1.40 or higher for 10 consecutive trading days, the company may accelerate the expiry date via press release, with warrants expiring 30 calendar days after such notice.
• Finder’s Fees: 7% payable to eligible finders in accordance with securities laws and Canadian Stock Exchange (CSE) policies.
• Use of Proceeds: Advancing exploration and development activities at the Prince Silver project (Nevada), working capital, and general corporate purposes.
• Regulatory Conditions: Subject to approval by the CSE.
• Hold Periods: Securities are subject to statutory hold periods expiring four months and one day from the date of closing, per applicable securities laws and CSE policy.

Notable Quotes

• None provided in the text.