Regency Silver Corp. (TSX-V:RSMX, OTCQB:RSMXF) closed the initial tranche of a private placement, securing $622,000 of an $800,000 non-brokered private placement.
The company issued 3,110,000 units at $0.20 each, with each unit consisting of one common share and one-half transferable common share purchase warrant. The warrants are exercisable at C$0.30 per share for two years. The remaining portion of the private placement is anticipated to close shortly.