The Prospector News

Discovery Silver Announces Warrant Exercises, Resulting in Increased Cash Balance of C$70 million

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Discovery Silver Announces Warrant Exercises, Resulting in Increased Cash Balance of C$70 million

 

 

 

 

 

 

Discovery Silver Corp. (TSX-V: DSV) (OTCQX: DSVSF) announces that an aggregate of 23,531,812 common share purchase warrants with an exercise price of C$0.77 were exercised prior to their expiry on June 8, 2022. The exercises resulted in gross proceeds of approximately C$18 million. The Company’s current cash balance has increased to approximately C$70 million.

 

Of the 23,531,812 Warrants that were exercised, Mr. Eric Sprott, through 2176423 Ontario Ltd. (a corporation he beneficially owns), exercised 9,090,909 Warrants for aggregate consideration of C$7 million. As a result of the Warrant exercise, Mr. Sprott now beneficially owns and controls 89,531,045 Shares and 5,555,500 warrants representing approximately 26.2% of the outstanding Shares on a non-diluted basis and approximately 27.3% on a partially diluted basis assuming the exercise of his remaining warrants.

 

About Discovery

Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits and one of the very few that offers the combination of margin, size and scaleability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico, and is supported by an industry leading balance sheet with approximately C$70 million available for aggressive exploration, resource expansion and future development. Discovery was a recipient of the 2020 TSX Venture 50 award and the 2021 OTCQX Best 50 award.

 

Posted June 9, 2022

Share this news article

MORE or "UNCATEGORIZED"


Agnico Eagle Announces Disposition of its Interest in Orla Mining LTD.

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) announced today that it sold 38,002,589 common s... READ MORE

September 9, 2025

Gladiator Metals Announces Closing of Upsized $22.5 Million Bought Deal Private Placement

Gladiator Metals Corp. (TSX-V: GLAD) (OTCQB: GDTRF) (FSE: ZX7) is pleased to announce that it has c... READ MORE

September 9, 2025

Vizsla Copper Expands Footprint of Strong Copper-Molybdenum Mineralization at The Thira Discovery; Drills 264 Meters of 0.43% Cueq In 400 Meter Step-Out Hole

Vizsla Copper Corp. (TSX-V: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0) is pleased to announce results fr... READ MORE

September 9, 2025

Sirios Receives $600,000 to Improve the Access Road to the Cheechoo Gold Project in Eeyou Istchee Baie-James

SIRIOS RESOURCES INC. (TSX-V: SOI) announces that the Government of Québec, through the Société ... READ MORE

September 9, 2025

Bravada Updates In-Pit Resource for Wind Mountain Project, Nevada

  Bravada Gold Corporation (TSX-V: BVA) (FSE: BRTN) reports an updated, independent In-pit Resour... READ MORE

September 9, 2025

Copyright 2025 The Prospector News