Silver Viper Closes Final Tranche of Private Placement
July 6, 2022
The Final Tranche was comprised of 1,530,000 units of the Company issued at a price of $0.20 per Unit for aggregate gross proceeds of $306,000.
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The Final Tranche was comprised of 1,530,000 units of the Company issued at a price of $0.20 per Unit for aggregate gross proceeds of $306,000.
SSR Mining Inc. is pleased to announce that it has closed the sale of the Pitarrilla project in Durango, Mexico to Endeavour Silver Corp. following the receipt of all required regulatory approvals and satisfaction of all closing conditions. As consideration for the sale, SSR Mining received US$35 million in cash, US$35 million in shares of Endeavour Silver, and a 1.25% net smelter return royalty on the Pitarrilla property.
“The addition of the Pitarrilla project elevates our portfolio as a leading mid-tier silver producer with high quality silver exposure and significant growth,” said Dan Dickson, Endeavour’s CEO. “We look forward to bringing our regional expertise to generate long-term value for our shareholders.”
“Vizsla continues to test target areas in the Central portion of the district in parallel with resource growth at Napoleon and Tajitos-Copala”, commented Michael Konnert, President and CEO. “These wide, high-grade intersections announced today are the reward for this strategy, with San Antonio demonstrating that the Cordon del Oro Corridor has significant potential to become another important resource centre at Panuco.”
“Sonora is well known for cost-effective mines that can operate open pits with grades below 0.5 g/t Au with very favourable production costs. Seeing this broad low-grade mineralization and higher-grade within gives us a lot of confidence in the potential we have here.”
“Our continued drilling program at El Favor East shows additional positive results. Our program is also focussing on Gran Cabrera in the northerly section of Los Ricos North, and we expect to provide an update on that shortly,” said Brad Langille, President and CEO. “In addition to our drilling, we continue to work on consolidation of additional ground in Los Ricos South and expect to have an update on this in the coming weeks.”
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