11:18 AM EST, 02/25/2025 (MT Newswires) -- Southern Silver Exploration ( SSVFF ) on Tuesday said it closed a non-brokered private placement of share units, raising $3.6 million.

The company issued 19.9-million units at $0.18 each and made up of a share and one half a three-year warrant to buy a share for $0.28.

Southern Silver will use the proceeds to develop the Cerro Las Minitas property and the the newly acquired Nazas property, both in Mexico.

The company's shares were last seen up $0.01 to $0.22 on the TSX Venture Exchange.

Price: 0.22, Change: +0.01, Percent Change: +3.81