Norseman Silver is looking to raise gross proceeds of up to $1.5 million from the placement of up to approximately 4.5 million units priced at $0.33 per unit. The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.43 for 12 months.
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Video Transcript:
I’m Cassandra Bolinski for Investmentpitch Media
Norseman Silver Inc. has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to approximately 4.5 million units priced at $0.33 per unit.
The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.43 for 12 months.
The shares are currently trading at $0.34.
Net proceeds will be used for general working capital purposes, as well as drilling on the Silver Vista property and exploration on Norseman’s silver assets in British Columbia and Argentina.
The company has four properties in British Columbia, all highly prospective for silver and copper mineralization, and one in Rio Negro, Argentina, in a mining-friendly district, host to one of the largest silver deposits in the world.
The Silver Vista property, located 55 kilometers NE of Smithers, has an extensive road network throughout the project and is accessible year-round.
The 3rd quarter work program is intended to follow-up on previous drill intercepts to test along strike and down dip, as well as test additional anomalies.
With previous drilling only testing the MR Zone, management believes there is high potential to intercept additional near surface silver-copper mineralization.
Highlights of previous drilling in 2018 include hole SV18-06 which returned 13.10 meters of 37.79 grams per tonne silver, 0.19% copper, and 0.21% zinc.
For more information on the company’s other properties, please visit the company’s website at www.NorsemanSilver.com, contact Sean Hurd, CEO, at 604-505-4554 or by email at shurd@norsemansilver.com.
I’m Cassandra Bolinski for Investmentpitch Media
