Tier One Silver Inc. (OTC: TSLVF) Stock In Focus After First Tranche of Private Placement Financing

The raising of fresh capital is almost always seen as a major new development by investors, and this past Friday it was Tier One Silver Inc. (OTC: TSLVF) that made an announcement to that effect. The company announced the details from the closure of a private placement at the time. Here’s a closer look into it.

Private Placement

On December 3, Tier One Silver announced that it had been successful in closing the first tranche of its non-brokered private placement, which had been announced previously. In the news release, the company noted that it offered as many as 5,183,333 units for the price of C$0.075 and managed to bring in gross proceeds to the tune of C$388,749.98. It was also announced that each unit was made up of one common share in Tier One Silver and a common share purchase warrant.

Further Information

It was also revealed that each warrant would entitle the holder to pick up a common share in the company for the price of C$0.15 at any time before 36 months from the date of issuance of warrants. More importantly, Tier One Silveralso announced that it intended to complete the second tranche of the private placement in the next 30 days.