Southern Silver Closes First Tranche of Financing
September 21, 2013
Southern Silver Exploration Corp. has closed the first tranche of its previously reported non-brokered private placement by issuing 6,830,150 units at a price of $0.02 per unit for gross proceeds of $136,603. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.05 per share. Securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants and finder’s warrants issued as finder’s fees, carry a legend restricting trading of the securities until January 14, 2014.
