viewAftermath Silver

Aftermath Silver upsizes previously announced placing to C$15.6M

The junior explorer said it would now issue 24 million shares, up from 19.25 million, still at the same price of C$0.65 each

Aftermath Silver -
Aftermath is focused on silver and has developed a pipeline of projects at various stages of exploration and development

Aftermath Silver Ltd (CVE:AAG) (OTCQB:AAGFF) has upsized its previously announced private placing to C$15.6 million from C$12.5 million.

In a brief statement, the junior explorer said it would now issue 24 million shares, up from 19.25 million, still at the same price of C$0.65 each.

READ: Aftermath Silver set for C$12.5M placing, with gold bull Eric Sprott investing over C$5.3M

Well known Canadian investor Eric Sprott is taking part in the financing and will increase his investment to hold around 19.9% of Aftermath's shares after the closing of the placement, the firm said.

"The company intends to use the net proceeds for exploration of the Berenguela silver-copper project in Peru, and the Challacollo and Cachinal silver-gold projects in Chile, and for general working capital and business development," it added.

At the end of July this year, Aftermath revealed it had inked a binding letter of intent with SSR Mining to buy the Berenguela silver-copper project in Puno, Peru.

It will buy the Peruvian holding company Sociedad Minera Berenguela SA for nearly US$13 million in staged cash payments, an investment in Aftermath shares and net smelter return royalties.

Aftermath said the Berenguela silver–copper project is an epithermal polymetallic carbonate-replacement deposit with a total tenement package of 6,594 hectares.

Shares in Toronto added over 6% to C$0.85 each.

---Updates for share price---

Contact the author at [email protected]

Quick facts: Aftermath Silver

Price: 1.04 CAD

Market: TSX-V
Market Cap: $121.47 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Aftermath Silver named herein, including the promotion by the Company of Aftermath Silver in any Content on the Site, the Company receives from...


Analyst Ryan Long asks if we could be facing a sustained uptrend in the...

Proactive analyst Ryan Long says silver has been turning heads in recent months and there are signs of a sustained near-term uptrend that could extend for some time. He says the gold-silver ratio has now risen from a low of 34.7:1 in April 2011, its lowest level since 1979, to its highest level...

on 08/12/2020

2 min read