Summa Silver Launches $6 Million Private Placement

Summa Silver Corp (TSXV: SSVR) announced this morning a brokered private placement. The firm is targeting to raise $6.0 million through the offering.

The offering is priced at $0.90 per unit. Each unit consists of one common share and one-half purchase warrant. Each warrant is exercisable for one common share at $1.20 per share within 36 months from closing.

“We look forward to continuing to drill zones of known high-grade silver and gold while advancing two of the best US silver projects towards mineral resources this year,” said CEO Galen McNamara.

The net proceeds from the offering are being intended for exploration, corporate development, and general working capital purposes.

The offering is expected to close on February 10, 2022, subject to customary closing conditions.

Summa Silver last traded at $1.05 on the TSX Venture.

Information for this briefing was found via Sedar and Summa Silver Corp. 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.

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