- Denarius Metals (DSLV) announced plans to complete a non-brokered private placement for gross proceeds of up to C$8,000,000
- The company plans to issue up to 20,000,000 units at $0.40 per unit
- Each unit will be comprised of one common share and one common share purchase warrant
- Denarius Metals engages in the acquisition, exploration, development and eventual operation of polymetallic mining projects
- Denarius Metals Corp. (DSLV) is down 5.21 per cent, trading at C$0.455 per share at 2:49 pm ET
Denarius Metals (DSLV) announced plans to complete a non-brokered private placement for gross proceeds of up to C$8,000,000.
This is in response to investor interest received during its recent Rights Offering.
The company plans to issue up to 20,000,000 units at $0.40 per unit. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will be exercisable to purchase one additional common share at $0.60 per share for three years from the date of closing.
Denarius Metals anticipates that the closing of the offering will occur on or about March 31, 2023. Completion of the offering is subject to receipt of TSX Venture Exchange approval.
All securities issued will be subject to a statutory hold period of four months.
The company intends to use the net proceeds to continue its exploration drilling campaign, metallurgical testing and other technical work at its flagship Lomero Project in Southern Spain. It will also use the proceeds to meet its obligations under the Definitive Option Agreement executed on November 22, 2022, related to the Toral Project in Northern Spain as well as for working capital and general corporate purposes.
About Denarius Metals
Denarius Metals engages in the acquisition, exploration, development and eventual operation of polymetallic mining projects. It focuses on high-grade districts, with its principal focus on the Lomero Project in Spain. The company also owns the Zancudo Project and Guia Antigua Project in Colombia.
Denarius Metals Corp. (DSLV) is down 5.21 per cent, trading at C$0.455 per share at 2:49 pm ET.