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The latest update is out from Hawthorn Resources Corp. ( (TSE:PRNC) ).
Prince Silver Corp. has announced a non-brokered private placement of up to 4,687,500 units at $0.70 per unit to raise as much as $3 million, with each unit comprising one common share and one-half warrant, and full warrants exercisable at $1.00 for 24 months, subject to an acceleration clause if the share price trades at or above $1.40 for 10 consecutive days. The financing, which is subject to Canadian Securities Exchange approval and includes standard hold periods and finder’s fee provisions, is intended to fund exploration and development at the company’s Prince Silver Project in Nevada and to provide working capital and general corporate funding, signaling a push to advance its flagship asset and potentially strengthen its resource base and position in the North American silver exploration sector.
More about Hawthorn Resources Corp.
Prince Silver Corp. is a silver exploration company focused on advancing its past-producing Prince Silver-Zinc-Manganese-Lead Mine in Nevada, which hosts near-surface mineralization historically drilled by more than 129 holes and remains open in all directions, supporting a pathway to a maiden NI 43-101 compliant resource estimate. The company also holds an interest in the nearby Stampede Gap Project, a district-scale copper-gold-molybdenum porphyry system located 15 km north-northwest of the Prince Silver Project, underscoring its strategy of targeting high-potential, strategically located exploration assets in the U.S. West.
Average Trading Volume: 98,076
Technical Sentiment Signal: Buy
For a thorough assessment of PRNC stock, go to TipRanks’ Stock Analysis page.