By Deborah Bacal
Procactive Investors
El Tigre Silver Corp. is raising $1.5 million through a non-brokered private placement financing, the company announced late Monday.
The placement will consist of up to 6.0 million units at a price of 25 cents apiece. Each unit will be made up of one common share and one half of a share purchase warrant, with every warrant entitling the holder to acquire an additional share for a period of two years at a price of 38 cents each.
The company said the proceeds would be used to continue exploration at its El Tigre property in Mexico, and for general working capital needs.