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Butte Energy ( (TSE:AGAG) ) has shared an update.
Argenta Silver Corp. has closed a C$23 million bought-deal private placement, issuing 28.75 million common shares at C$0.80 each under a listed issuer financing exemption, with Red Cloud Securities and Raymond James acting as underwriters and receiving cash fees and broker warrants, subject to final TSX Venture Exchange approval. The financing, which leaves the new shares freely tradeable in Canada, also dilutes existing large shareholders Frank Giustra and Eduardo Elsztain below the 10% reporting threshold on an undiluted basis, modestly broadening the company’s shareholder base as it advances exploration at its underexplored El Quevar silver project in Argentina.
More about Butte Energy
Argenta Silver Corp. is a Vancouver-based mining company focused on silver exploration and development, with its flagship El Quevar Project in Salta, Argentina, covering 57,000 hectares of largely underexplored ground. The company targets growth in silver resources through drilling and project advancement in this prospective Andean mining jurisdiction.
Average Trading Volume: 1,407,191
Technical Sentiment Signal: Buy
Current Market Cap: C$222.8M
Learn more about AGAG stock on TipRanks’ Stock Analysis page.