Silver Crown Royalties has closed the second tranche of its non-brokered private placement, raising approximately C$489,515 through the issuance of 75,310 units at C$6.50 per unit. The company's total units issued under this offering now stand at 142,848, with cumulative gross proceeds reaching C$928,512.
Each unit comprises one common share and one purchase warrant, which can be exercised to acquire an additional common share at C$13.00 over a three-year period. The proceeds will be allocated to partially fund the second tranche of the company's silver royalty acquisition on the Igor 4 project in Peru, as well as cover general and administrative expenses.
The strategic placement demonstrates Silver Crown Royalties' ongoing efforts to expand its silver royalty portfolio. By focusing on revenue-generating royalties, the company provides investors with precious metals exposure that can serve as a potential hedge against currency devaluation while mitigating production cost risks.
All securities issued are subject to a standard four-month and one-day hold period, in compliance with securities regulations. The closing was contingent upon approval from Cboe Canada Inc.
