Tier One Silver Inc. (OTC:TSLVF) Stock Rallies After Equity Financing

This morning, a number of companies will be on the radar of investors owing to the developments from yesterday, and hence, it is important to carefully select the companies to follow. The Tier One Silver Inc. (OTC:TSLVF) stock could be one to track today owing to the announcement from the company yesterday with regards to the competition for the first tranche of its non-brokered private placement.

The company had announced the terms of the placement on April 9. In the private placement, Tier One Silver issued a total of 5366514 units for the price of C$0.14 per unit to generate gross proceeds to the tune of C$751311.96. In the news release, the company also announced that it had paid cash to the tune of C$22974.22 in finders’ fees and also issued as many as 164105 non-transferable finders’ warrants. Each finders’ warrant issued by the company would be exercisable as per the same terms that had been announced by Tier One Silver on April 9. It was also noted that the funds raised in the offering would be deployed towards general working capital needs.

As per the provisions of the relevant securities laws, the securities that had been issued as part of the offering would be subjected to a statutory hold period of four months and a day since the date of issuance. Tier One Silver also announced that, following the filing of the standard documentation, final approval from the TSX Venture Exchange was also expected. Tier One Silver is an exploration company focused on unlocking value for its shareholders through the discovery of silver, gold, and copper deposits in Peru. At this point, the company is focused on the development of Curibaya, its flagship exploration project in Peru. Investors could do well to keep an eye on the Tier One Silver stock today.


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