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Silver Mines Announces Entitlement Offer and Shortfall Placement Raises $3.85M

Silver Mines Limited (“Silver Mines” or “the Company”) advises that its renounceable entitlements issue announced on 3 August 2018 closed on 31 August 2018 at 5:00 p.m. (AEST) (“the Offer”). The Offer was for one new share for every four shares held by eligible shareholders at an issue price of $0.03 per share (“New Shares”) to raise $3.85 million (before costs), together with one free attaching option for every two New Shares subscribed for, exercisable at $0.06 with an expiry date three years from the date of issue (“New Options”).


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