Prince Silver Corp Announces Closing of First Tranche of Private Placement Financing

Executive Summary

• Prince Silver Corp. closed the first tranche of its non‑brokered private placement, raising $1,475,040 in gross proceeds.
• The financing consisted of 2,304,750 units priced at $0.64 per unit, each unit containing one common share and half a non‑transferable warrant (full warrant purchase price $0.95, exercisable for 18 months).
• Net proceeds will be used to expand the drill exploration program at the 100% owned Prince Silver Project in Nevada and for general corporate working capital.

Key Details

• Units Issued: 2,304,750 (each = 1 common share + ½ warrant)
• Price per Unit: $0.64
• Gross Proceeds: $1,475,040
• Warrant Terms: One‑half warrant per unit; each full warrant allows purchase of one additional common share at $0.95 for 18 months from issuance.
• Hold Period: Securities subject to a four‑month‑plus‑one‑day hold period under applicable securities laws.
• Finder’s Fees Paid: $47,241.60 to arm’s‑length finders in connection with the first tranche.
• Use of Proceeds:
• Expand current drill exploration program on the Prince Silver Project (Nevada, USA)
• General corporate working capital

Notable Quotes

(No direct quotes were included in the release.)