- Discovery Silver (DSV) has closed its previously announced “marketed” public offering for gross proceeds of approximately $51.75 million
- The company intends to use the net proceeds to continue the advancement and de-risking of the Cordero Project and for working capital and general corporate purposes
- Discovery Silver is an exploration and development company building a large-scale, high-margin silver asset in Mexico
- Discovery Silver Corp. (DSV) is down 3.28 per cent, trading at C$1.18 per share at 10:15 am ET
Discovery Silver (DSV) has closed its previously announced “marketed” public offering for gross proceeds of approximately $51.75 million.
A syndicate of agents co-led by Clarus Securities Inc. and Cormark Securities Inc. conducted the offering. The syndicate of agents included BMO Nesbitt Burns Inc., Eight Capital, and PI Financial Corp.
The offering consisted of the sale of 43,125,000 shares, including the full exercise of the Agents’ option at C$1.20 per Share.
The company intends to use the net proceeds to fund the continued advancement and de-risking of the Cordero Project and for working capital and general corporate purposes.
Tony Makuch, CEO of Discovery Silver, commented on the news.
“We appreciate the support of our existing institutional shareholders and welcome the new investors who participated in this financing. We are now in a very strong financial position to advance Cordero to a potential construction decision through delivering on key de-risking milestones along with our ongoing feasibility study work.”
About Discovery
Discovery Silver is an exploration and development company building a large-scale, high-margin silver asset in Mexico. Its flagship project is its 100 per cent-owned Cordero project which is one of the world’s largest silver deposits. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico.
Discovery Silver Corp. (DSV) is down 3.28 per cent, trading at C$1.18 per share at 10:15 am ET.