Cascada Silver Corp. [CSS-CSE] has received all necessary regulatory and Canadian Securities Exchange approvals to commence trading of its common shares on the CSE Friday March 12, 2021. With receipt of listing approvals in hand, Cascada will increase its exploration activities on its portfolio of silver properties located in Chile’s Atacama Region, including the historic Agua Amarga silver property where high-grade silver-bearing veins were mined over a period of 70 years during the 19th century.
Commenting on the receipt of listing approvals, Carl Hansen, Cascada’s CEO stated, “We are pleased that Cascada will start trading on the CSE and, with approximately $3.7 million in the treasury, we can now focus on ramping up our exploration activities in Chile. We have had field crews active on the ground at Agua Amarga for the past month conducting mapping and structural analysis of the silver vein systems in preparation for a drilling program to commence during the second quarter of 2021. In addition, we will now mobilize field crews onto our Marilin and El Gringo silver-gold-copper properties to start sampling programs.”
On March 12, 2021, 44,890,000 special warrants which were issued at a price of $0.10 per Special Warrant under the terms of a special warrant indenture dated October 15, 2020, pursuant to a private placement offering led by Mackie Research Capital Cor. as sole agent and sole bookrunner, were converted to units of Cascada, each a SW Unit, on a 1.0 Special Warrant to 1.1 SW Unit basis, resulting in the issuance of 49,379,000 SW Units. Each SW Unit is comprised of one common share and one common share purchase warrant.
In addition to the SW Units issued under the terms of the SW Indenture, a concurrent financing of 281,000 units, each, a Financing Unit, at a price of $0.10 per Financing Unit, for net proceeds of $28,100, also closed on March 12, 2021. Each Financing Unit is comprised of one Common Share and one Warrant. Each Warrant, whether issued under the SW Indenture or pursuant to the concurrent financing, will entitle the holder to purchase one Common Share at a price of $0.15 until March 11, 2024.
Cascada Silver has four properties under option in Chile, including the historic Agua Amarga property where high-grade epithermal silver-bearing veins were mined during the 19th century.
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