New Issue: Columbus Silver wraps C$1.59 million oversubscribed placement of units

By Devika Patel

Knoxville, Tenn., Oct. 2 - Columbus Silver Corp. said it settled a C$536,023 second and final tranche of an oversubscribed C$1.59 million private placement of units. The deal priced for C$1.3 million on July 22, and the company increased the offering size to C$1.5 million and took in C$1.06 million on Sept. 1.

The company sold 10,557,500 units at C$0.10 apiece in the first tranche and 5,360,230 units in the second tranche.

Each unit consists of one common share and one warrant, with each two-year warrant exercisable at C$0.20.

Proceeds will be used for exploration and working capital.

Based in Vancouver, B.C., Columbus Silver is a silver exploration company.

Issuer:	Columbus Silver Corp.
Issue:	Units of one common share and one warrant
Amount:	C$1,591,773
Units:	15,917,730
Price:	C$0.10
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.20
Pricing date:	July 22
Upsized:	Sept. 1
Settlement dates:	Sept. 1 (for C$1,055,750), Oct. 2 (for C$536,023)
Stock symbol:	TSX Venture: CSC
Stock price:	C$0.10 at close July 22
Market capitalization:	C$1.68 million

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