Silver Mountain Resources Seeks To Raise $23 Million In TSXV IPO

Mining firm Silver Mountain Resources Inc. is looking to go public on the TSX Venture Exchange. The firm announced today that it is seeking to raise a total of $23 million in its initial public offering.

The proposed offering will be conducted through the issuance of 46.0 million company units selling at $0.50 per share. This is an upsize from the original plan of raising $15 million in the IPO. Each company unit will comprise of one common share and one-half purchase warrant, with each whole warrant exercisable to acquire one common share at $0.70 per share within 24 months following the closing.

The offering is being managed by Eight Capital and Sprott Capital Partners leading a syndicate of underwriters, which were given a 30-day overallotment option to purchase additional 6.9 million units at the same IPO price.

The silver miner plans to restart the Reliquias underground mine at the Castrovirreyna project in Huancavelica, Peru.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Gold Could Easily Double Again in This Run!? | Dan Wilton – First Mining Gold

$3300 GOLD: Every $100 Rise in Gold Means Pure Profit |  Ross Beaty – Equinox Gold

First Majestic Silver: The Santo Nino Discovery

Recommended

Emerita Resources Intends To Appeal Exploitation License Granted To Minera Los Frailes

First Majestic Silver: The Santo Nino Discovery

Related News

Dating App Grindr Swipes Right To Potential US$2.1 Billion SPAC Merger

LGBTQ+ dating app Grindr announced on Monday the potential business combination agreement with special purpose...

Tuesday, May 10, 2022, 02:25:00 PM

Ex-Wipro CEO-led SPAC Compass Digital Acquisition Prices US$200 Million IPO

Special purpose acquisition company Compass Digital Acquisition Corp. (Nasdaq: CDAQU) started trading publicly on the...

Friday, October 15, 2021, 02:27:00 PM

Tech SPAC Athena Technology Acquisition II Looks To Raise US$250 Million In IPO

Blank check company Athena Technology Acquisition Corp. II (NYSE: ATEK.U) went public today on the...

Friday, December 10, 2021, 02:11:00 PM

Employment Screening Platform HireRight Prices US$422 Million IPO

Pre-employment background screening firm HireRight (NYSE: HRT) started publicly trading on the New York Stock...

Friday, October 29, 2021, 02:13:00 PM

Fintech Firm Blend Labs Seeks US$360 Million In IPO

Blend Labs Inc. announced this morning the launch of its initial public offering on the...

Tuesday, July 6, 2021, 11:20:00 AM