First Andes Silver Increases Private Placement to $1,350,000 CAD | MSLVF Stock News

🗝️ Key Points

• First Andes Silver (OTC: MSLVF) has increased its private placement offering to $1.35 million CAD from $1.0 million CAD.
• The offering includes 13.5 million units at $0.10 CAD per unit, each with a common share and half a share purchase warrant.
• Proceeds will be used for expanding the drill program at the Santas Gloria silver property and general working capital.First Andes Silver (OTC: MSLVF) announced an increase in.

• Proceeds will be used for expanding the drill program at the Santas Gloria silver property and general working capital.

First Andes Silver (OTC: MSLVF) announced an increase in its previously declared non-brokered private placement, raising the target from $1.0 million CAD to $1.35 million CAD. The offering will consist of 13.5 million units, priced at $0.10 CAD per unit. Each unit comprises one common share and one-half of a share purchase warrant, allowing further capital raising opportunities.

Each warrant can be exercised at $0.15 CAD per share over a two-year period following issuance. However, the securities will be subject to a four-month resale restriction period. The raised funds are earmarked for expanding the company’s drill program at the Santas Gloria silver property in Peru and meeting general working capital needs.

The Santas Gloria property, located 55 km east of Lima, offers strategic importance due to its location within a well-known intermediate sulfidation epithermal belt. The area hosts over 12 km of multiphase veins and has seen promising results from modern exploration techniques initiated in 2024.

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