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Core Silver Corp. Closes $1.287 Million Flow-Through Private Placement

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CCCA$0.4250 −6.59%

Core Silver Corp. (CC) has completed a non-brokered private placement, raising $1.287 million in gross proceeds. The company issued 2,340,500 flow-through units at a price of $0.55 per unit. Each unit consists of one flow-through common share and one-half of a purchase warrant. Each whole warrant allows the holder to purchase an additional share at $0.85 for two years. No finder's fees were paid on the transaction, and the securities carry a statutory hold period of four months plus one day. Shares of Core Silver Corp. (CSE:CC) traded down 6.59% to 0.425 CAD.

The financing provides essential exploration capital without incurring transaction finder's fees, maximizing the cash directly allocated to field programs. Proceeds are designated for Canadian exploration expenses at the company's Touleary project in the Yukon through 2027. While the capital supports upcoming drilling and project work, the warrants introduce potential future share dilution if exercised.

Investors will be monitoring operational updates and drill results from the Touleary Yukon project as exploration activities proceed over the coming years.

Key points

  • Core Silver Corp. raised $1.287 million in gross proceeds through a non-brokered private placement.
  • The placement issued 2,340,500 flow-through units priced at $0.55 per unit.
  • Each unit includes one flow-through share and half a warrant exercisable at $0.85 over two years.
  • Proceeds are allocated for exploration expenses at the Touleary project in the Yukon through 2027.
  • No finder's fees were paid, and issued securities are subject to a four-month plus one-day hold period.

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Questions and answers

How much money did Core Silver Corp. raise in its private placement?

Core Silver Corp. raised $1.287 million in gross proceeds by issuing 2,340,500 flow-through units at $0.55 per unit.

What will Core Silver Corp. use the financing proceeds for?

The proceeds will fund Canadian exploration expenses at the Touleary project in the Yukon through 2027.

What are the terms of the Core Silver Corp. warrants?

Each unit contains one-half of a warrant. Each whole warrant can be exercised at $0.85 for a period of two years.