02:47 PM EDT, 07/29/2025 (MT Newswires) -- Southern Silver Exploration ( SSVFF ) on Tuesday said it raised $15 million in a bought deal LIFE private placement of units. This includes the exercise in full of the over-allotment option.

A statement noted the company sold around 55.55 million units priced at $0.27 each.

Each unit is made up of one share and one-half of a warrant. Each whole warrant allows the holder to buy one share at $0.40 at any time on or before July 29, 2028.

The company plans to use the net proceeds from the offering for the advancement of the Cerro Las Minitas project located in the state of Durango, Mexico as well as for working capital and general corporate purposes.

The closing of the offering remains subject to the final approval of the TSX Venture Exchange.

The company's shares were last seen down 2% to $0.235 on the TSX Venture Exchange.

Price: 0.24, Change: -0.01, Percent Change: -2.08