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Quetzal Copper Corp ( (TSE:SICO) ) has issued an update.
Silverco Mining Ltd. has increased the size of its previously announced bought-deal equity financing from $40 million to $62.5 million, with lead underwriter Velocity Capital Partners now set to purchase 4 million common shares at $12.50 each for $50 million and an additional 1 million units at the same price for $12.5 million. The upsized raise, which includes a $10 million lead order from insider Eric Sprott and warrants exercisable at $18.00, will fund exploration, evaluation and restart work at the Cusi Project as well as corporate and working capital needs, potentially accelerating the project’s development and strengthening the company’s financial position ahead of a planned restart, subject to regulatory and exchange approvals.
More about Quetzal Copper Corp
Silverco Mining Ltd. is a Canadian mining company listed on the TSX Venture Exchange that owns a 100% interest in the 11,665-hectare Cusi Project in Chihuahua State, Mexico, a silver-focused asset within a well-known mining district.
Average Trading Volume: 112,518
Technical Sentiment Signal: Buy
Find detailed analytics on SICO stock on TipRanks’ Stock Analysis page.