Summa Silver Corp.: Issuing Common Shares Pursuant to Amended Lease Agreements
Vancouver, BC – In a recent press release, Summa Silver Corp. (SSVR, SSVRF, 48X) announced that it will issue an aggregate of 112,324 common shares in accordance with two previously entered into amended and restated mining lease agreements. This issuance is subject to the final approval of the TSX Venture Exchange.
Background on Summa Silver Corp.
Summa Silver Corp. is a mineral exploration and development company focused on the Keystone and Hughes Canyon silver projects located in Nevada, USA. The Company’s primary objective is to discover and develop economically viable mineral deposits.
Details of the Common Share Issue
The common shares will be issued at a deemed value of $0.3516 per common share. This value represents the 20-day volume weighted average price of Summa Silver Corp.’s common shares as traded on the TSXV.
Impact on Summa Silver Corp.
The issuance of common shares is a common practice in the mining industry, allowing companies to raise additional capital for their operations. In this case, the proceeds from the sale of these common shares will provide Summa Silver Corp. with the necessary funds to further its exploration and development activities at the Keystone and Hughes Canyon projects.
Impact on Shareholders
For existing shareholders, this issuance could potentially dilute their ownership percentage in the company. However, it is essential to note that the proceeds from the sale of these common shares will contribute to the growth and development of the Company, potentially increasing the value of their shares in the long run.
Impact on the Mining Industry and the World
The mining industry is a significant contributor to the global economy, providing essential minerals and metals for various industries, including technology, construction, and energy. The issuance of common shares by Summa Silver Corp. is just one example of the ongoing efforts to explore and develop new mineral deposits. As the demand for these resources continues to grow, it is crucial for companies to secure the necessary funding to meet this demand.
Conclusion
Summa Silver Corp.’s announcement of issuing common shares pursuant to amended and restated mining lease agreements is a common practice in the mining industry. This issuance will provide the Company with the necessary funds to further its exploration and development activities, potentially contributing to the growth and development of the mining industry as a whole. For existing shareholders, this issuance may result in a dilution of their ownership percentage. However, the proceeds from the sale of these common shares will contribute to the long-term success of the Company and the industry as a whole.
- Summa Silver Corp. to issue 112,324 common shares
- Issuance subject to TSXV approval
- Common shares to be issued at a deemed value of $0.3516
- Proceeds to fund exploration and development activities
- Impact on shareholders: potential dilution
- Impact on mining industry: contribution to growth and development
