Regency Silver Announces Closing of Oversubscribed Private Placement of $2.159M at $0.20 per Share

VANCOUVER, BC, Dec. 23, 2022 /CNW/ - Regency Silver Corp. ("Regency Silver" or the "Company") (TSXV: RSMX) and (OTCQB: RSMXF) is pleased to announce that it has completed a non-brokered private placement of 10,795,000 common shares at a price of $0.20 per share for gross proceeds of CAD$2,159,000.

In connection with part of the closing of the private placement, the Company paid a finder's fee of $16,000 in cash to PI Financial Corp. 

The proceeds will be used for work programs on the properties of Regency Silver including drilling and geophysics in early January 2023 on our flagship Dios Padre property, for property payments on other properties of the Company and for general working capital.

All common shares issued under the private placement will be subject to a four month hold period expiring on April 23, 2023, in accordance with applicable Canadian securities laws.  

For further details about Regency Silver please visit the Company's website at  www.Regency-Silver.com.

ABOUT REGENCY SILVER CORP.:

Regency Silver is a gold-copper-silver exploration company focused on the Americas. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regency Silver's flagship project is the Dios Padre gold-copper-silver project in Sonora, Mexico.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This news release includes certain forward-looking statements and forward-looking information (together, "forward-looking statements"). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the use of proceeds of the private placement by the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that regulatory changes, fundraising, and risk associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management. The forward-looking statements in this news release were developed based on the expectations of management and that the risks described above will not materialize. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

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.

SOURCE Regency Silver Corp

Regency Silver Corp., Bruce Bragagnolo, Executive Chairman, Phone: [phone], Email: [email protected]; Gijsbert Groenewegen, Chief Executive Officer, Phone: [phone], Email: [email protected]