Prince Silver Corp. Upsizes Private Placement to $4.75 Million

Prince Silver Corp., a mining exploration firm based in Vancouver, announced an increase in its non-brokered private placement, expanding it from $3 million to $4.75 million. The decision was driven by strong demand from existing and new investors looking to support the Prince Silver Project in Nevada's Pioche Mining District.

The offering includes units priced at $0.70, each comprising one common share and a half-share purchase warrant. These warrants allow holders to acquire additional shares at $1.00 for two years. The company can accelerate warrant expiry if share prices remain at or above $1.40 for 10 days.

Prince Silver intends to use the funds for further drilling, a maiden mineral resource estimate, and metallurgical work, alongside general capital needs. Up to 6,785,714 units may be issued, pending regulatory approval.