RE:San Felipebelow is that news...I wonder how it will affect the share price once people find this out...I got the news from my on line broker...being silver it may not affect those who are here mainly because of gold.
Americas Silver Corporation Announces US$10 Million Investment by Eric Sprott 07/19/2019 10:43 AM ET
Americas Silver Corporation (TSX: USA) (NYSE American: USAS) ("Americas Silver" or the "Company") is pleased to announce that Eric Sprott has agreed to purchase 3,955,454 common shares of the Company at a price of CDN$3.30 per share, for a total investment of approximately US$10 million in a non-brokered private placement the ("Private Placement").
The Company also announces today that the agreement to sell the Company's option on the San Felipe project in Sonora, Mexico ("San Felipe") to a subsidiary of Premier Gold Mines Limited ("Premier") has been terminated in accordance with its terms. The Company previously announced the agreement with Premier on April 3, 2019 for total sales proceeds of US$10.8 million.
Following the termination of the Premier agreement, the proceeds of the Private Placement will be used to satisfy the equity financing condition of the loan facility from Sandstorm Gold Ltd., as well as ongoing San Felipe option payments and general working capital purposes.
"We are very excited to have Eric Sprott materially increase his ownership to above 8% and continue to support the Company as a major shareholder," said Darren Blasutti, President & CEO of Americas Silver. "We are also pleased to have retained the significant upside in the San Felipe silver-zinc project for our shareholders."
The Private Placement is expected to close in due course and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE American. The common shares to be issued under the Private Placement will have a hold period of four months and one day from the closing date in accordance with applicable Canadian securities laws. Medalist Capital Ltd. acted as an advisor on the Private Placement.