07:16 AM EDT, 06/19/2025 (MT Newswires) -- Silver Viper Minerals ( VIPRF ) overnight Wednesday said it plans to carry out an additional non-brokered private placement following its $3.5 million non-brokered private placement, which together are expected to generate total proceeds of up to $6 million.

The offering is expected to include the issuance of up to 6.7 million units at $0.30 apiece. The company said each unit will comprise one common share and one-half of one warrant. Each warrant will allow the holder to buy one share at an exercise price of $0.50, valid for 24 months from the issuance date.

The offering is expected to close in a series of tranches, with the first tranche on or about June 25. Proceeds will be used for drilling and other exploration activities at La Virginia and for working capital and other general corporate purposes.

Shares of the company closed down 2.5% at $0.385 on Wednesday on the TSX Venture Exchange.