Silver Tiger Secures US$10.8 Million for El Tigre

Canada-based silver-focused mining company Silver Tiger Metals announced the closing of a common share bought deal offering, resulting in over CA$15 million (US$10.8 million). The company will use the resources to fund the development and exploration of its El Tigre project in Sonora. 

Silver Tiger Metals reports that the offering involved the sale of 45.45 million shares atCA$0.33 per share, resulting in gross proceeds of approximately CA$15 million.

Silver Tiger Metals intends to use the proceeds from the offering to fund exploration and development activities at the El Tigre project, as well as for working capital and general corporate purposes.

The syndicate of underwriters for the offering was led by Stifel Canada and Desjardins Capital Markets as co-lead underwriters and joint bookrunners. BMO Capital Markets, SCP Resource Finance LP, Ventum Financial, and Canaccord Genuity Corp also participated in the syndicate. The underwriters received a cash commission of 6% on the gross proceeds of the offering.