Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF) said on Tuesday it has closed a brokered private placement, raising C$20 million to fund exploration and development at its Berenguela silver-copper-manganese project in southern Peru.
The offering comprised 22.2 million common shares and was led by Research Capital Corporation as co-lead agent and sole bookrunner, with Red Cloud Securities as co-lead agent.
Aftermath Silver said the net proceeds will be used to advance the Berenguela Project, including completion of a pre-feasibility study, as well as for exploration at its other mineral projects, working capital, and general corporate purposes.
The company’s Berenguela Project is located in southern Peru and hosts significant silver, copper, and manganese resources.