Silver Dollar Raises $5.9M, Eric Sprott Buys 17.5% Stake
Silver Dollar Resources Inc. (CSE: SLV, OTC: SLVDF) has successfully raised $5,900,000 through a private placement offering of units, each consisting of one common share and one common share purchase warrant. The offering was priced at $0.35 per unit and was not registered under the U.S. Securities Act of 1933.
The company sold a total of 16,857,150 units, with 14,000,000 units sold under the Listed Issuer Financing Exemption and 2,857,150 units sold to accredited investors. Notably, Mr. Eric Sprott acquired 2,857,150 units for $1,000,025.00, beneficially owning and controlling approximately 17.5% of the outstanding shares on a non-diluted basis and approximately 22.1% on a partially-diluted basis following the offering. The company paid a cash commission of $347,343.15 and issued 992,409 broker warrants to the agent in connection with the offering. Mr. Sprott's participation was direct and not through a specific named Sprott fund.
The net proceeds from the offering will be used for exploration activities on the La Joya Silver Project in Mexico and the Ranger-Page Ag-Pb-Zn Project in Idaho, as well as for general working capital purposes.
Silver Dollar Resources Inc. has successfully completed a private placement offering, raising $5,900,000. The funds will be used for exploration activities on two key projects and general working capital. Mr. Eric Sprott's significant investment in the company highlights the potential of its projects and the confidence in its future prospects.
Read also:
- Web3 gaming platform, Pixelverse, debuts on Base and Farcaster networks
- Cannabis-Focused CTV Channel Citizen Green Launches for Global Streamers
- Goodyear in 2025: Advancement in Total Mobility through the Launch of Kmax Gen-3 by Goodyear
- Boston Metal pioneers route to commercial production for eco-friendly steel method
