Millennium Silver oversubscribes $2.89 million private placement to fund Nevada exploration

An announcement from Millennium Silver Corp ( (TSE:MSC) ) is now available.

Millennium Silver Corp. has secured oversubscription for its non-brokered private placement, raising total proceeds of $2,888,905 through the issuance of 192,593,667 units priced at $0.015, each with a five-year warrant featuring an escalating exercise price. The financing, which includes finder’s fees and insider participation treated as a related-party transaction under MI 61-101, is subject to TSX Venture Exchange approval and will fund exploration under its NI 43-101 report, as well as accounts payable and working capital.

The company will pay up to a 6% cash finder’s fee and issue up to 7,885,020 non-transferable finder’s warrants with matching escalating strike prices, aligning third-party incentives with long-term share performance. Proceeds directed toward exploration and balance sheet needs are expected to support ongoing work on the company’s Nevada projects and help strengthen its operational footing within the junior exploration sector.

More about Millennium Silver Corp

Millennium Silver Corp. is a Vancouver-based mineral exploration company focused on advancing its silver projects in Nevada. The company’s common shares trade on the TSX Venture Exchange under the symbol MSC, positioning it within the junior mining segment of the Canadian capital markets.

Average Trading Volume: 1,038,545

Technical Sentiment Signal: Buy

Current Market Cap: C$4.43M

For an in-depth examination of MSC stock, go to TipRanks’ Overview page.