Aftermath Silver arranges $12.5-million placement

Aug 27, 2020

2020-08-27 07:24 ET – News Release

Mr. Ralph Rushton reports

AFTERMATH SILVER ANNOUNCES A C$12.5-MILLION NON-BROKERED PRIVATE PLACEMENT

Aftermath Silver Ltd. has arranged a non-brokered private placement of up to 19.25 million common shares at a price of 65 cents per share to raise $12.5-million.

Eric Sprott has agreed to invest $5,351,022 in the private placement on the acquisition of 8,232,341 common shares. Assuming the private placement is fully subscribed, this investment will result in Mr. Sprott holding approximately 19.9 per cent of Aftermath issued and outstanding common shares, postclosing.

The company intends to use the net proceeds for drilling and other technical studies on the Berenguela silver-copper project in Peru, and the Challacollo and Cachinal silver-gold projects in Chile, and for general working capital purposes.

The company may pay a finder’s fee in connection with the private placement. The private placement is subject to the approval of the TSX Venture Exchange and other applicable securities regulatory bodies, and the securities will be subject to a four-month-and-one-day hold period from the closing date, under Canadian securities laws.

About Aftermath Silver Ltd.

Aftermath Silver is a Canadian junior exploration company focused on silver and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of exploration.

We seek Safe Harbor.

https://aftermathsilver.com/