Pacifica Silver Announces Closing of Upsized Brokered Offering

Core Viewpoint - Pacifica Silver Corp. has successfully closed an upsized private placement offering, raising a total of $23,011,500 through the sale of 15,870,000 common shares at a price of $1.45 per share, which reflects strong support from both new and existing investors [1][2][3] Group 1: Offering Details - The offering was well-received, attracting participation from new precious metal funds and established strategic shareholders, including Vizsla Silver Corp., First Majestic Silver Corp., Silvercorp Metals Inc., and investor Eric Sprott [2] - The net proceeds from the offering will be allocated to advancing exploration and drilling activities at the Claudia Project in Durango, Mexico, as well as for working capital and general corporate purposes [5] - The offering was conducted under the listed issuer financing exemption, allowing it to be offered in Canada and the United States without a statutory hold period [7] Group 2: Management Commentary - The CEO of Pacifica Silver expressed gratitude for the robust participation from institutional investors, highlighting their confidence in the potential of the Claudia Silver-Gold Project [3] - The financing will enable the company to accelerate exploration efforts and unlock the project's high-grade potential through year-round drilling operations [3] Group 3: Financial Arrangements - Raymond James Ltd. acted as the lead agent for the offering, receiving a cash fee of $1,260,690 and 414,031 compensation warrants, each exercisable into one common share at the offering price for two years [6] - Four insiders subscribed for 180,000 units, amounting to gross proceeds of $261,000, which will be classified as a related-party transaction [4]