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Regency Silver Closes $1,268,655 First Tranche of Private Placement
NYSE - LSE
Regency Silver Closes $1,268,655 First Tranche of Private Placement
Regency Silver Corp. ("Regency Silver" or the "Company") (TSXV:RSMX)(OTCQB:RSMXF) is pleased to announce that it has completed the first tranche of a previously announced non-brokered private placement for total proceeds of $1,268,655.
Regency Silver has issued 8,457,706 units at a price of $0.15 per unit on this first tranche closing for gross proceeds of CAD$1,268,655. Each Unit is comprised of one common share of the Company and one share purchase warrant (the "Warrants"). Each Warrant entitles the holder to acquire one additional common share in the capital of the Company at a price of CAD$0.25 per share for a period of two years following the date of issuance. The Warrants are subject to the right of the Company to accelerate the exercise of the warrants if the shares of the Company trade at a closing price above CAD$0.50 per share for 10 consecutive trading days.
In connection with this closing, the Company paid cash finder's fees of $24,330 and issued 162,200 broker warrants. Each broker warrant will entitle the holder to purchase one common share of the Company at a price of CAD$0.25 per share for a period of two years from the date of issuance and is subject to the acceleration clause.
All securities issued under the private placement will be subject to a four month hold period in accordance with applicable Canadian securities laws.
The proceeds will be used for exploration and development of the Company's properties and general working capital.
The Company expects to complete the balance of the private placement shortly.
For further details about Regency Silver please visit the Company's website at www.Regency-Silver.com.
Contact Information
Regency Silver Corp.
Bruce Bragagnolo, Executive Chairman
Phone: 1-604-417-9517
Email: [email protected]
Gijsbert Groenewegen, Chief Executive Officer
Phone: 1-646-247-1000
Email: [email protected]
ABOUT REGENCY SILVER CORP.:
Regency Silver Corp. is a Canadian resource company exploring for high grade gold, copper, and silver in Mexico. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regency's flagship project is the high grade Dios Padre project in Sonora, Mexico where Regency has made a large, high grade, gold-copper-silver discovery which appears to be a large magmatic-hydrothermal system which widens at depth. Drill results have included 38 metres of 7.36 g/t gold in hole REG 23-21, 36 metres of 6.84 g/t gold, 0.88% copper and 21.8 g/t silver in hole REG 22-01, and 29.4 m of 6.32 g/t gold in hole REG 23-14.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Regency Silver Corp.
M.Anderson--SMC
