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Aftermath Silver closes upsized non-brokered private placement of 26,362,442 shares for gross proceeds of $17,135,587

The company said it intends to use the net proceeds for drilling and other technical studies on the Berenguela Silver-Copper project in Peru, and the Challacollo and Cachinal Silver-Gold projects in Chile, and for general working capital purposes

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The group noted that renowned investor Eric Sprott has increased his investment in order to maintain 19.61% of Aftermath's issued and outstanding common shares

Aftermath Silver Ltd. (CVE:AAG) (OTCQB:AAGFF) said it has closed its previously announced upsized non-brokered private placement of 26,362,442 shares for gross proceeds of $17,135,587.

The group noted that renowned investor Eric Sprott has increased his investment in order to maintain 19.61% of Aftermath's issued and outstanding common shares.

READ: Aftermath Silver upsizes previously announced placing to C$15.6M

The company said it intends to use the net proceeds for drilling and other technical studies on the Berenguela Silver-Copper project in Peru, and the Challacollo and Cachinal Silver-Gold projects in Chile, and for general working capital purposes.

All securities issued in connection with the Private Placement are subject to a hold period and may not be traded until January 15, 2021, except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.

An aggregate amount of $494,567.44 in cash and 290,360 common shares were paid as finders' fees in connection with the private placement.

Contact the author at jon.hopkins@proactiveinvestors.com

Quick facts: Aftermath Silver

Price: 0.83 CAD

TSX-V:AAG
Market: TSX-V
Market Cap: $96.94 m
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