Silver One Raises C$32 Million Through 55.17M-Unit Placement
Silver One increased its non-brokered private placement to issue 55,173,000 units at C$0.58 apiece, raising C$32.0 million. Each unit includes one common share and one-half warrant exercisable at C$0.80 for three years, with proceeds funding Candelaria drilling, geophysics, pre-feasibility and general working capital.
1. Private Placement Oversubscribed and Increased
Silver One Resources announced that strong investor demand led to an upsized non-brokered private placement financing of 55,173,000 units at C$0.58 each, raising gross proceeds of C$32,000,340. The company has closed its order book and does not anticipate further increases. Each unit comprises one common share and one-half of a warrant, with each full warrant exercisable to acquire one additional share at C$0.80 per share for three years from issue.
2. Allocation of Proceeds and Corporate Objectives
Net proceeds from the financing will be deployed across several priority areas: advancing the Candelaria Project through an expanded drilling program, conducting exploration and geophysics on Silver One’s portfolio of mineral properties, carrying out metallurgical and environmental studies at Candelaria, and preparing a pre-feasibility study. Additional funds will cover annual Bureau of Land Management claim payments, exploration drilling at other properties, and general working capital requirements. Closing is expected within three weeks in one or more tranches, subject to TSX Venture Exchange approval.