Regency Silver Corp said it had closed an oversubscribed non-brokered private placement that raised nearly C$2.16 million for a drilling program on its flagship Dios Padre property.
The company issued 10,795,000 shares at a price of $0.20 per share for gross proceeds of $2,159,000.
In connection with part of the closing of the private placement, the company paid a finder's fee of $16,000 in cash to PI Financial Corp.
READ: Regency Silver arranges private placement of 10 million common shares for net proceeds of C$2M
In a statement, the exploration company said the proceeds will be used for work programs on the properties of Regency Silver – including drilling and geophysics in early January 2023 on the Dios Padre property.
Additional proceeds will be used for property payments on other properties of the company and for general working capital.
Regency Silver is a gold-copper-silver exploration company focused on the Americas. The Dios Padre gold-copper-silver project is located in Sonora, Mexico.
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