Zacatecas Silver Corp (TSX-V:ZAC, OTC:ZCTSF) said it has launched a $1.8 million fundraising to satisfy ongoing costs associated with its properties as well as general working capital purposes.
The non-brokered private placement will see 18,000,000 units issued at a price of $0.10 apiece, with each unit consisting of one common share and half of a share purchase warrant.
Each warrant will entitle the holder to purchase a common share at an exercise price of $0.15 within two years of issue.
Zacatecas has two key projects in Mexico: the Esperanza gold project in the state of Morelos and the Zacatecas silver project in Zacatecas state.