Argenta Silver Announces Bought Deal Private Placement for Gross Proceeds of C$10 Million
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/TSX-V: AGAGVANCOUVER, BC, July 24, 2025 /CNW/ - Argenta Silver Corp. (TSXV:AGAG) (OTCQB:AGAGF) (FSE: T1K) ("Argenta" or the "Company") is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. ("Red Cloud"), as sole underwriter and bookrunner, pursuant to which Red Cloud has agreed to purchase for resale 25,000,000 units of the Company (each, a "Unit") at a price of C$0.40 per Unit (the "Offering Price") on a "bought deal" basis in a private placement for gross proceeds of approximately C$10,000,000 (the "Underwritten Offering"). Each Unit will consist of one common share of the Company (each, a "Common Share") and one- half of one transferable common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant shall entitle the holder to purchase one Common Share (each, a "Warrant Share") at a price of C$0.60 at any time on or before that date which is 36 months after the Closing Date (as herein defined).The Company will grant to Red Cloud an option, exercisable up to 48 hours prior to the Closing Date, to purchase for resale up to an additional 5,000,000 Units at the Offering Price for additional gross proceeds of up to approximately C$2,000,000 (the "Over-Allotment Option"). The Underwritten Offering and the securities issuable upon exercise of the Over-Allotment Option shall be collectively referred to as the "Offering".The Company intends to use the net proceeds from the Offering for the exploration and advancement of the Company's 100% owned El Quevar Project in Salta Province, Argentina as well as for working capital and general corporate purposes.The ...Full story available on Benzinga.com
