Kuya Silver Corporation (CSE: KUYA) this morning was the latest firm to announce a bought deal financing. The financing will see the company raise gross proceeds of $8.0 million in an offering lead by Cormark Securities.
The financing will see a total of 4.2 million units of the company sold at a price of $1.90 per unit. Each unit is to contain one common share and one half of a common share purchase warrant. Warrants are valid for a period of 24 months from the date of issuance, and contain an exercise price of $2.60 per share.
An over-allotment option for up to an additional 15% of units has also been issued in connection with the financing.
Proceeds from the offering are to be used for development activities at the firms Bethania project, as well as for general working capital.
The financing is expected to close June 16, 2021.
Kuya Silver last traded at $2.10 on the CSE.
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