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BRIEF-Prospero secures C$1.5 mln strategic investment from Fortuna Silver Mines

Stock MarketsApr 17, 2017 09:50
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© Reuters. BRIEF-Prospero secures C$1.5 mln strategic investment from Fortuna Silver Mines

April 17 (Reuters) - Prospero Silver Corp PSL.V :

* Prospero secures c$1.5-million strategic investment from Fortuna Silver Mines

* Prospero Silver Corp- Fortuna will purchase 5.4 million units at C$0.28 per unit

* Prospero Silver - will allocate c$1.2 million to drill testing selected projects and c$300k will be allocated towards co's generative efforts in Mexico

* Prospero Silver-Fortuna will have right to select one of projects within 18 months from signing of definitive agreement to joint venture with prospero

* Prospero Silver- Fortuna's right to select projects gives it potential to earn 70% interest by spending us$8 million over 6 years

* Prospero Silver Corp- intend to begin drill testing at Petate, Matorral and Pachuca se projects as rapidly as possible Source text for Eikon: ID:nCCNbQNLBl Further company coverage: PSL.V

BRIEF-Prospero secures C$1.5 mln strategic investment from Fortuna Silver Mines
 

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