Silver Viper Minerals Corp. (OTC:VIPRF) Stock In Focus After Recent News

In light of the announcement made by the company last Friday, it could be a good move for investors to take a closer look into the Silver Viper Minerals Corp. (OTC:VIPRF) stock. The company announced at the time that it had been successful in closing the first tranche of its private placement worth $2 million.

The announcement with regards to the placement of the first tranche was made by the company on December 18, 2023. Silver Viper Minerals issued as many as 5,324,000 units in the company for the price of $0.10 a unit and generated gross proceeds of as much as $532,400.

It was announced in the news release that each unit was made up of a common share in the company and a warrant. The holder of each warrant would be entitled to acquire a share in Silver Viper Minerals for the price of $0.20 up until December 22, 2025.

All the securities that had been issued and the shares that originated from the exercise of the warrants would be subject to a hold period ending on April 23, 2024. Silver Viper Minerals announced that it intended to use the proceeds from the offering to make its last option payment of $200,000 on its La Virginia project. The payment would be due in June 2024.

Additionally, the fund would also be used for general corporate and working capital purposes. Additionally, it was also announced that the company had also agreed to pay a finder’s fee to some finders. In relation to the private placement of the first tranche, the company announced that it would pay a finder’s fee of as much as $15204 to Canaccord Securities Inc., $900 to BMO Nesbitt Burns Inc., $1800 to Leede Jones Gable, $8700 to Haywood Securities Inc., and $1260 to Red Cloud Securities.