- GR Silver Mining (OTCQB:GRSLF) entered into an agreement with Beacon Securities on behalf of a syndicate of agents in relation to best efforts private placement of up to 33.3M units at a price of $0.15/unit.
- Each unit consists of one share and one-half of one common share purchase warrant; warrant will be exercisable to acquire one share for 36 months post offer closing at an exercise price of $0.22/share.
- Gross proceeds expected to be $5M.
- The company has granted the options an option, exercisable by Beacon, to sell up to an additional 5M units for additional gross proceeds of up to $750,015, exercisable in whole or partially prior to offer closing.
- Net proceeds to be used for working capital and general corporate purposes.
- Offer is expected to close on or about Aug.30, 2022.