Nevada Silver Corporation (TSX-V:NSC) has said the brokered private placement financing it announced on March 3, 2022, has been terminated.
The company further noted that it is in advanced discussions with a number of interested parties on a non-brokered private placement financing with further details to be announced in due course.
Nevada Silver also announced that the Depository Trust Company (DTC) has made its common shares eligible for electronic deposit at the DTC.
The company said it believes being DTC eligible will make trading in its common shares on the OTCQB Venture Market more accessible to the US investment community.
READ: Nevada Silver provides update on Emily Manganese project and Belmont silver property purchase
Having DTC eligibility enables the NSC common shares to be distributed, settled, and serviced through DTC's automated processes. This allows for a more streamlined process of trading the NSC common shares in the United States while enhancing the liquidity of the common shares in the OTC capital markets.
Nevada Silver is a multi-commodity exploration and development company with two US-based exploration projects with NI 43-101 compliant mineral resources and an experienced, multidisciplinary technical team and board.
The company's principal asset is the Corcoran Silver Project in Nevada, which has mineralization near-surface, is open in all directions, and has an Inferred Mineral Resource of 33.5 million silver-equivalent ounces. The Corcoran Silver Project has a number of high-priority exploration targets that provide excellent growth potential.
In February 2022, Nevada Silver announced that it had acquired the historic Belmont Silver Project, which was among the earliest and richest silver mining camps in the Tonapah district, with an estimated ore head grade averaging 25 ounces per ton of silver.
In addition to Corcoran and Belmont, Nevada Silver has exclusive ownership and management rights over the Emily Manganese Project in Minnesota, USA. The Emily Project contains North America's highest-grade manganese resource and has been the subject of considerable technical studies, with US$24 million invested to date.
Contact the author at jon.hopkins@proactiveinvestors.com