Maverick arranges $774,000 private placement for exploration push
What's the deal? Maverick Gold and Silver Corp.Dealroom has a profile for this one. Try Dealroom → has arranged a non-brokered private placement of up to 22 million units at five cents each, for gross proceeds of up to US$0.81-million (about $774,000). The exploration-stage miner said it will use net proceeds for working capital and general corporate purposes.
The terms: Each unit pairs one common share with one warrant exercisable at 10 cents for 24 months. If the shares trade at or above 15 cents for 10 consecutive days on the Canadian Securities ExchangeDealroom has a profile for this one. Try Dealroom →, Maverick can accelerate the warrants' expiry.
What's the endgame? Maverick is advancing a portfolio of gold, silver, and copper properties in Nevada and British Columbia. It is targeting growth through systematic exploration and drilling.
The fine print: The offering may close in one or more tranches, subject to CSE approval and customary conditions. All securities carry a four-month-plus-one-day hold period. Maverick may pay finders a 6% cash commission plus warrants equal to 6% of units they place.
The signal: For a junior explorer, a sub-$1-million raise is a modest but routine way to keep drilling funded without taking on debt — and the accelerator clause gives Maverick a path to convert warrants into fresh capital if its shares rally.
Read more: stockwatch.com
Image credit: James St. John
