Regency Silver Announces Closing of Private Placement of $2.496M at $0.40 per Share
April 6, 2023
Vancouver, BC – April 6, 2023 – Regency Silver Corp. (“Regency Silver” or the “Company”, TSXV- RSMX and OTCQB-RSMXF) is pleased to announce that it has completed a non-brokered private placement of 6,240,000 common shares at a price of $0.40 per share for gross proceeds of CAD$2,496,000.
In connection with the closing of the private placement, the Company paid cash finder’s fees of $91,140.
All common shares issued under the private placement will be subject to a four month hold period expiring on August 7, 2023, in accordance with applicable Canadian securities laws.
The proceeds will be used for ongoing drilling on our flagship Dios Padre property, for property payments on other properties of the Company and for general working capital.
The ongoing drill program is designed to follow up on discovery Hole REG 22-01 drilled in 2022. REG 22-01 yielded 35.8 metres of 6.84 g/t gold, 0.88% copper and 21.82 g/t silver.
The follow up drill program began on January 15th 2023. The visual results of the first three holes totaling 1,974m of drilling were reported in our February 23, 2023 news release.
Assay results for the first 3 holes of our 2023 drill program are expected by mid April.
The data collection portion of the Induced Polarization (IP) program on the Dios Padre property has been completed. The results of the IP program are also expected by mid April.
For further details about Regency Silver please visit the Company’s website at www.Regency-Silver.com.
Contact Information Regency Silver Corp.
Bruce Bragagnolo, Executive Chairman
Gijsbert Groenewegen, Chief Executive Officer
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.
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.