Zacatecas Silver Corp. has closed the second and final tranche of its non-brokered private placement, issuing 14,639,941 units at $0.07 per unit for gross proceeds of $1,024,795.87.

The closing brings total gross proceeds for the entire offering to $2,499,989.94 through the issuance of 35,714,142 units. Each unit consists of one common share and one purchase warrant, with each warrant exercisable at $0.09 for two years. The warrants are subject to an acceleration right allowing the company to shorten the expiry to 30 days if the 20-day volume-weighted average trading price of the common shares equals or exceeds $0.18.

Director Charles Hethey subscribed for 300,000 units under the second tranche through an indirect corporate holding, constituting a related-party transaction exempt from formal valuation and minority shareholder approval requirements. Finders connected to the final tranche received $4,256.42 in cash fees and 60,805 finder warrants carrying the same terms as the main placement. All securities issued under the offering carry a four-month-and-one-day hold period under Canadian securities laws.

Funds raised from the placement will be allocated toward the planned maiden diamond drill program at the Oso Negro project in Sonora, Mexico, alongside ongoing exploration across the company’s six-project Mexican portfolio and general working capital requirements.

Zacatecas Silver previously identified 20 drill pad locations at Oso Negro and completed ecological studies ahead of the maiden drilling campaign. The project hosts the Prospecto and Tere low-sulphidation epithermal vein systems, where earlier surface sampling programs returned grades up to 14.8 g/t gold and 2,340 g/t silver across mapped strike lengths. The company is currently pending receipt of a SEMARNAT drill permit before drilling can commence.

The properties forming the current portfolio, including Oso Negro, were acquired under an option agreement finalized with Heliostar Metals Ltd., granting Zacatecas Silver a 100% interest in four exploration properties in exchange for staged cash and share payments.

Read the full announcement: Zacatecas Silver Closes the Second Tranche of Non-Brokered Private Placement