USA:CA announced the closing of its $6.9 million private placement with Cormark Securities Inc. An aggregate of 26,565,000 units were issued at $0.26 per, including 3,465,000 units issued under the underwriter’s over-allotment option.
US Silver paid the underwriter, Cormark, a cash commission equal to 6% of the gross proceeds of the offering. US Silver plans to use the net proceeds of the private placement for redevelopment of the Coeur Mine in the Silver Valley, Idaho, and for general working capital purposes.
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or Chris Hopkins,
by Ted Niles