VANCOUVER, BC / ACCESSWIRE / September 27, 2023 / Regency Silver Corp. (“Regency Silver” or the “Company”)(TSXV:RSMX)(OTCQB:RSMXF) is pleased to announce that it has completed the first tranche of a previously announced non-brokered private placement. Also, due to strong demand, the private placement has been upsized to CAD$1.75 Million from $1.5 Million.
Regency Silver has issued 5,613,500 units at a price of $0.20 per unit on this first tranche closing for gross proceeds of CAD$1,122,700. Each Unit is comprised of one common share of the Company and one half of one transferable common share purchase warrant (the “Warrants“). Each whole Warrant is exercisable to purchase one common share of the Company at a price of CAD$0.30 per share for a period of two years from the date of issuance. The second tranche is expected to close shortly.
In connection with this first tranche closing, the Company paid cash finder’s fees of $21,312 and issued 106,650 broker warrants. Each broker warrant will entitle the holder to purchase one common share of the Company at a price of CAD$0.30 per share for a period of two years from the date of issuance.
Bruce Bragagnolo, Regency Silver’s Executive Chairman stated, “We are pleased to complete the first tranche of this private placement and thank our existing shareholders and new shareholders for their strong support.”
All securities issued under the private placement will be subject to a four month hold period expiring on January 26, 2024, in accordance with applicable Canadian securities laws.
The proceeds will be used for exploration and development of the Company’s properties and general working capital.
Regency Silver’s flagship project is the Dios Padre gold-copper-silver project in Sonora, Mexico. Regency Silver has made a new high grade discovery at Dios Padre and has drilled 35.8 metres of 6.84 g/t gold, 0.88% copper and 21.82 g/t silver in Hole REG-22-01. Hole REG-23-14 intersects 35.9m of 5.51 g/t Au including 29.4m of 6.32 g/t gold.
As announced in July of 2023, 8 of 9 holes drilled at the Dios Padre property intersect the targeted breccia zone down-dip and along strike to both the east and west from REG-22-01 with room for expansion in all directions. Breccia appears to widen with increased depth. The 10th hole, REG-23-22 targets a potential up-dip extension of the mineralized zones ~200m to the west of the discovery area coincident with the strongest chargeablilty anomaly detected in the 2023 IP survey. Significant concentrations of sulphide (dominantly Pyrite) are found coincident with this zone.
The assay results for 6 of the above holes into the breccia zone and 1 hole into the strong chargeability anomaly will be released shortly.
For further details about Regency Silver please visit the Company’s website at www.Regency-Silver.com.
Contact Information
Regency Silver Corp.
Kin Communications Inc.
Phone: 1-604-684-6730
Email: [email protected]
Bruce Bragagnolo, Executive Chairman
Phone: 1-604-417-9517
Email: [email protected]
Gijsbert Groenewegen, Chief Executive Officer
Phone: 1-646-247-1000
Email: [email protected]
ABOUT REGENCY SILVER CORP.:
Regency Silver is a gold-copper-silver exploration company focused on the Americas. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regency Silver’s flagship project is the Dios Padre gold-copper-silver project in Sonora, Mexico. Regency Silver has made a new discovery at Dios Padre and has drilled 35.8 metres of 6.84 g/t gold, 0.88% copper and 21.82 g/t silver in Hole REG-22-01 and REG-23-14 intersects 35.9m of 5.51 g/t Au including 29.4m of 6.32 g/t gold.
Technical Information
The technical information contained in this news release has been reviewed by Company director Michael Tucker, P.Geo, who is recognized as a Qualified Person under the guidelines of National Instrument 43-101. Mr. Tucker is a director of the Company and for that reason is not considered independent. Mr. Tucker has read and approved the technical contents of this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release includes certain forward-looking statements and forward-looking information (together, “forward-looking statements”). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the use of proceeds of the private placement by the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company’s plans or expectations include the risk that regulatory changes, fundraising, and risk associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management. The forward-looking statements in this news release were developed based on the expectations of management and that the risks described above will not materialize. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Regency Silver Corp.
