Prince Silver Announces $3.0 Million Non-Brokered Private Placement

Executive Summary

• Prince Silver Corp. announced a non‑brokered private placement of up to 4,687,500 units at $0.70 per unit, targeting gross proceeds of up to $3 million.
• Each unit consists of one common share and half of a common‑share purchase warrant (full warrant exercisable at $1.00 for 24 months, with an acceleration clause if the share price reaches $1.40).
• Net proceeds are earmarked to advance exploration and development at the Prince Silver Project in Nevada, as well as for working capital and general corporate purposes.

Key Details

• Units Offered: Up to 4,687,500 units @ $0.70 per unit → $3,000,000 gross proceeds (maximum).
• Unit Composition: 1 common share + ½ warrant; a full warrant allows purchase of one common share at $1.00 for 24 months from issuance.
• Warrant Acceleration Trigger: If the closing price of Prince Silver’s common shares trades ≥ $1.40 for ten consecutive trading days, the company may accelerate expiry to the 30th calendar day after a press‑release notice.
• Finder’s Fees: Up to 7% payable to eligible finders in accordance with CSE policies and securities laws.
• Regulatory Conditions: Subject to approval by the Canadian Securities Exchange; securities will be subject to statutory hold periods of four months and one day from closing.
• Use of Proceeds:
• Advance exploration and development activities at the Prince Silver Project (Nevada).
• Working capital and general corporate purposes.
• Closing Conditions: Customary conditions including CSE approval; securities to be issued under statutory hold periods.

Notable Quotes

(No direct quotes were provided in the release.)