Prince Silver Corp Closes First Tranche of Private Placement

Prince Silver Corp, a company listed on the Canadian Securities Exchange, announced the successful closing of the first tranche of its private placement financing. The company raised $1,475,040 by issuing 2,304,750 units at $0.64 per unit. Each unit offers one common share and half a warrant, allowing the purchase of an additional share at $0.95 within 18 months.

The securities will be held for four months plus one day as per regulations. A finder's fee of $47,241.60 was paid out in this tranche. Prince Silver Corp intends to utilize the proceeds to enhance their drilling exploration at the Prince Silver Project in Nevada, along with general corporate needs.