Zacatecas Silver increases financing to $3.75-million

Executive Summary

• Zacatecas Silver Corp. increased its private placement from 41,666,666 to 62,500,000 units, raising the potential gross proceeds to $3.75 million.
• Each unit consists of one common share and one warrant exercisable at $0.10 per share for two years; acceleration provisions apply if the VWAP reaches $0.20 for 20 consecutive days.
• Proceeds are earmarked for a drilling campaign on the Zacatecas silver project, strategic initiatives, and working capital.

Key Details

• Units Offered: 62,500,000 (up from 41,666,666).
• Price per Unit: $0.06.
• Gross Proceeds Target: Up to $3.75 million.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $0.10 per share; term of two years from issuance.
• Acceleration Clause: If the VWAP ≥ $0.20 for 20 consecutive trading days, expiry accelerates to 30 days after a notice issued within 10 business days of the trigger period.
• Finder’s Fees: May be paid in cash and/or additional warrants.
• Resale Restrictions: Securities subject to a four‑month lock‑up from issuance.
• Use of Proceeds: Fund drilling campaign at Zacatecas silver project, support strategic initiatives, and provide working capital.
• Exchange Approval: Offering pending acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)