Silverco Raises $62.5 Million to Fund Cusi Restart and Expansion

An announcement from Quetzal Copper Corp ( (TSE:SICO) ) is now available.

Silverco Mining Ltd. has closed a $62.5 million bought-deal equity financing led by Velocity Capital Partners and Desjardins Securities, issuing 4 million common shares and 1 million units at $12.50 each. Each unit includes a share and a quarter warrant exercisable at $18.00, and insider Eric Sprott contributed a lead order of $10 million, with total insider participation of $11.225 million.

Management said the financing strengthens the balance sheet ahead of the planned Nuevo Silver acquisition and the restart of operations at the Cusi project, marking a strategic shift toward becoming a larger silver producer. Proceeds will fund exploration, evaluation and restart work at Cusi, along with general corporate purposes, while parts of the offering are subject to resale restrictions and final TSX Venture Exchange approval.

More about Quetzal Copper Corp

Silverco Mining Ltd. is a Canadian mining company focused on silver production and development. The company is advancing its Cusi silver project and pursuing the acquisition of Nuevo Silver, positioning itself to become a more significant player in the silver mining sector.

Average Trading Volume: 129,568

Technical Sentiment Signal: Buy

Find detailed analytics on SICO stock on TipRanks’ Stock Analysis page.