Regency Silver Closes $1,268,655 First Tranche of Private Placement
Summary
VANCOUVER, BC / ACCESSWIRE / November 28, 2024 / Regency Silver Corp. ("Regency Silver" or the "Company") (TSXV:RSMX)(OTCQB:RSMXF) is pleased to announce that it has completed the first tranche of a previously announced non-brokered private placement for total proceeds of $1,268,655.Regency Silver has issued 8,457,706 units at a price of $0.15 per unit on this first tranche closing for gross proceeds of CAD$1,268,655. The Warrants are subject to the right of the Company to accelerate the exercise of the warrants if the shares of the Company trade at a closing price above CAD$0.50 per share for 10 consecutive trading days.In connection with this closing, the Company paid cash finders fees of $24,330 and issued 162,200 broker warrants. Each broker warrant will entitle the holder to purchase one common share of the Company at a price of CAD$0.25 per share for a period of two years from the date of issuance and is subject to the acceleration clause.All securities issued under the private placement will be subject to a four month hold period in accordance with applicable Canadian securities laws.The proceeds will be used for exploration and development of the Companys properties and general working capital.The Company expects to complete the balance of the private placement shortly.For further details about Regency Silver please visit the Companys website at www.Regency-Silver.com.Regency Silver Corp. is a Canadian resource company exploring for high grade gold, copper, and silver in Mexico. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regencys flagship project is the high grade Dios Padre project in Sonora, Mexico where Regency has made a large, high grade, gold-copper-silver discovery which appears to be a large magmatic-hydrothermal system which widens at depth.