On April 20, 2023, Hercules Silver Corp. closed a brokered private placement of 28,750,000 units at a price of $0.20 per unit for gross proceeds of $5.75 million, which includes the full exercise of the agents’ option.
Each unit consists of one common share in the capital of Hercules Silver and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share of Hercules Silver at a price of $0.30 per common share for a period of 24 months from the closing date of the offering.
The offering was led by Canaccord Genuity Corp. as part of a syndicate of agents, and including Research Capital Corporation and 3L Capital Inc.
Cassels acted for the agents.