Prospero Silver Corp.

TSX VENTURE : PSL


Prospero Silver Corp.

April 15, 2014 07:00 ET

Prospero Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 15, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES

Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 5,000,000 units at a price of $0.05 per unit, for aggregate gross proceeds of up to CDN $250,000. Each unit will consist of one common share and one full warrant, each warrant exercisable by the holder to acquire one additional common share at a price of $0.10 per warrant for a period of 12 months from the date of closing.

If for any time from four months and one day after the closing of the financing, the volume weighted average trading price of the Company's common shares on the TSX Venture Exchange over a period of 20 consecutive trading days exceeds $0.20 the Company may, within five days of such event, provide notice to the warrant holders that the warrants will expire early, namely on a date which is 30 calendar days after the date of such notice to the warrant holders.

No finder's fees will be paid on any, all or part of the placement.

The Company plans to use the net proceeds from this private placement for the overhead support required for entering into new joint ventures, ongoing property acquisitions, field work on its El Petate and Pachuca S-E Project as well as for general working capital.

The proposed financing is subject to the approval of the TSX Venture Exchange.

About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in Mexico and who work for its wholly owned subsidiary MineraFumarola, SA de CV (Fumarola). Prospero's objective is to quickly evaluate the properties currently optioned for their suitability to provide size potential and/or amenability for strategic joint ventures.

Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to the closing of a non-brokered private placement. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. Factors that could cause actual results to differ materially from these forward looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to secure sufficient subscriptions from subscribers to complete the above-described private placement, or otherwise to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, including the risk factors discussed in Prospero's November 27, 2009 prospectus. Except as required by securities laws and the policies of the TSX Venture Exchange, Prospero disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

THE SHARES BEING OFFERED FOR SALE MAY ONLY BE PURCHASED BY CANADIAN RESIDENTS, OFFSHORE RESIDENTS AND RESIDENTS OF THE UNITED STATES OF AMERICA, IN EACH CASE PURSUANT TO AVAILABLE EXEMPTIONS UNDER APPLICABLE SECURITIES LEGISLATION.

NONE OF THE SHARES OFFERED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE.

THESE SECURITIES HAVE NOT BEEN APPROVED NOR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY AND ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Prospero Silver Corp.
    William Murray
    Chairman
    (604) 288-7813

    Contact Financial
    Kirk Gamley
    (604) 561-3642