By Sheri Kasprzak
New York, Jan. 27 - Esperanza Silver Corp. said it intends to raise C$1.8 million in a private placement.
The non-brokered offering includes 1.5 million units of one share and one half-share warrant. The whole warrants are exercisable at C$1.50 each for 18 months.
The units are priced at C$1.20 each.
Proceeds will be used for exploration on the company's San Luis, La Esperanza and other exploration programs. The rest will be used for working capital.
Based in Vancouver, B.C., Esperanza is a silver exploration company.
| Issuer: | Esperanza Silver Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.8 million
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| Units: | 1.5 million
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| Price: | C$1.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$1.50
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| Placement agent: | Non-brokered
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| Announcement date: | Jan. 27
|
| Stock symbol: | TSX Venture: EPZ
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| Stock price: | C$1.29 at close Jan. 27
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