By Sheri Kasprzak
Atlanta, Oct. 20 - Esperanza Silver Corp. said Wednesday it will enter the private placement market with a C$1.5 million private placement.
The deal consists of 3.75 million units of one share and one-half purchase warrant at C$0.40 per unit.
The whole warrants will entitle buyers to an additional share for two years at C$0.55.
Vancouver, B.C.-based Esperanza is a silver exploration and discovery company. The proceeds from the financing will fund continued exploration and serve as general working capital.
| Issuer: | Esperanza Silver Corp.
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| Issue: | Units of one share and ½ purchase warrant
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| Amount: | C$1.5 million
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| Shares: | 3.75 million units
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| Price: | C$0.40 per unit
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| Warrants: | ½ warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.55
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| Announcement date: | Oct. 20
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| Stock price: | C$0.465 at close Oct. 20
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