Prismo Metals Announces Closing of Upsized Private Placement

Core Points - Prismo Metals Inc. has successfully upsized and closed its non-brokered private placement, increasing the number of units from 12,500,000 to 17,450,000, resulting in gross proceeds of $1,745,000 due to strong investor demand [1][2] - The terms of the warrants associated with the units have been amended, with each unit now consisting of one common share and one full warrant, without the previous acceleration clause [2] - The net proceeds from the private placement will primarily be used for drilling at the Silver King project and for general corporate purposes, with an additional $125,000 expected from further subscriptions [3] Financial Details - The company issued 919,960 finder's warrants and paid finder's commissions totaling $92,398, along with a cash fee of $15,000 to a financial advisor in connection with the private placement [4] - All securities issued are subject to a four-month hold period under Canadian securities laws, and 303,275 units were issued to related parties, qualifying as a related party transaction [5] Company Overview - Prismo Metals Inc. is focused on mining exploration, particularly on three silver projects (Palos Verdes, Silver King, and Ripsey) and a copper project (Hot Breccia) located in Arizona [6]