Aftermath Silver (TSX-V:AAG) Ltd said it is increasing the size of its previously-announced, non-brokered private placement from up to 11,764,705 company units to up to 17,647,058 units at a price of $0.17 per unit.
The junior explorer noted that it intends to use the net proceeds from the offering for metallurgical and other technical studies on the Berenguela silver-copper project in Peru, as well as the Challacollo silver-gold project in Chile, and for general working capital purposes.
Each unit will be comprised of one Aftermath Silver (TSX-V:AAG) common share plus one-half of one non-transferable common share purchase warrant, with each warrant being exercisable to acquire one company common share for a period of 24 months from the closing of the private placement at a price of C$0.27 per share.
READ: Aftermath Silver announces C$2 million non-brokered private placement for exploration activities in Peru and Chile
The private placement is subject to the approval of the TSX Venture Exchange and the securities will be subject to a four month and one day hold period.
As well, Aftermath Silver reported that a total of 3,320,406 warrants priced at $0.12 were exercised between August 31 and October 31, 2022, for proceeds to the company of C$398,449, while a total of 1,445,000 warrants expired unexercised.
Aftermath Silver is a Canadian junior exploration company focused on silver that aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions.
The company has developed a pipeline of projects at various stages of advancement.
Contact Sean at sean@proactiveinvestors.com