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Regency Silver Announces Closing of Private Placement of $2.496M at $0.40 per Share

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Regency Silver Announces Closing of Private Placement of $2.496M at $0.40 per Share

 

 

 

 

 

Regency Silver Corp. (TSX-V: RSMX) (OTCQB: RSMXF) is pleased to announce that it has completed a non-brokered private placement of 6,240,000 common shares at a price of $0.40 per share for gross proceeds of CAD$2,496,000.

 

In connection with the closing of the private placement, the Company paid cash finder’s fees of $91,140.

 

All common shares issued under the private placement will be subject to a four month hold period expiring on August 7, 2023, in accordance with applicable Canadian securities laws.

 

The proceeds will be used for ongoing drilling on our flagship Dios Padre property, for property payments on other properties of the Company and for general working capital.

 

The ongoing drill program is designed to follow up on discovery Hole REG 22-01 drilled in 2022.  REG 22-01 yielded 35.8 metres of 6.84 g/t gold, 0.88% copper and 21.82 g/t silver.

The follow up drill program began on January 15th 2023.  The  visual results of the first three holes totaling 1,974m of drilling were reported in our February 23, 2023 news release.

 

Assay results for the first 3 holes of our 2023 drill program are expected by mid April.

 

The data collection portion of the Induced Polarization (IP) program on the Dios Padre property has been completed. The results of the IP program are also expected by mid April.

 

ABOUT REGENCY SILVER CORP.

 

Regency Silver is a gold-copper-silver exploration company focused on the Americas. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regency Silver’s flagship project is the Dios Padre gold-copper-silver project in Sonora, Mexico.

 

Posted April 10, 2023

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