First Andes Silver (OTCPK:MSLVF) announced on Friday a non-brokered private placement financing of up to 10M units at C$0.10 per unit for gross proceeds of about C$1M.
Each unit will consist of one share and one-half of one share purchase warrant. Each warrant will be exercisable at C$0.15 per share.
The proceeds will be used to expand on its current drill program at the Santas Gloria silver property and for general working capital purposes.