On January 8, 2021, Plymouth Realty Capital Corp. completed a brokered private placement of 9,250,000 subscription receipts at a price of $0.80 per subscription receipt for aggregate gross proceeds of $7.4 million. The net proceeds are being held in escrow pending satisfaction of the escrow release conditions, which includes closing of Plymouth’s qualifying transaction, whereby Plymouth will acquire a 100% interest in three silver-focused Mexican mineral properties, being Peñasco Quemado, Sonora; La Frazada, Nayarit; and Pluton, Durango. Plymouth will also change its name to “Silverton Metals Corp.”
Canaccord Genuity Corp. acted as lead underwriter and agent on behalf of a syndicate of agents, including Sprott Capital Partners.
Cassels acted for the agents.