Regency Silver Closes First Tranche of Private Placement
VANCOUVER, January 17, 2024 - Regency Silver Corp. ("Regency Silver" or the "Company") (TSXV:RSMX)(OTCQB:RSMXF) is pleased to announce that it has completed the first tranche of $622,000 of a previously announced non-brokered private placement of $800,000.
Regency Silver has issued 3,110,000 units at a price of $0.20 per unit on this first tranche closing for gross proceeds of CAD$622,000. Each Unit is comprised of one common share of the Company and one half of one transferable common share purchase warrant. 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 balance of the private placement is expected to close shortly.
In connection with this closing, the Company paid cash finder's fees of $6,790 and issued 33,950 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.
All securities issued under the private placement will be subject to a four month hold period from the date of issue in accordance with applicable Canadian securities laws. The private placement remains subject to the final approval of the TSX Venture Exchange.
The proceeds will be used for exploration and development of the Company's properties and general working capital.
For further details about Regency Silver please visit the Company's website at www.Regency-Silver.com.
Contact Information
Kin Communications Inc.
Phone: 1-604-684-6730
Email: RSMX@kincommunications.com
Bruce Bragagnolo, Executive Chairman
Phone: 1-604-417-9517
Email: bruce@regency-silver.com
Gijsbert Groenewegen, Chief Executive Officer
Phone: 1-646-247-1000
Email: gijs@regency-silver.com
ABOUT REGENCY SILVER CORP.:
Regency Silver Corp. is a Canadian resource company exploring for high grade gold, copper, and silver in Mexico. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regency's flagship project is the high grade Dios Padre project in Sonora, Mexico where Regency has made a large, high grade, gold-copper-silver discovery which appears to widen at depth. Drill results have included 38 metres of 7.36 g/t gold in hole REG 23-21, 36 metres of 6.84 g/t gold, 0.88% copper and 21.8 g/t silver in hole REG 22-01, and 29.4 m of 6.32 g/t gold in hole REG 23-14.
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.
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