Southern Silver Exploration Corporation (TSXV:SSV) announced entering into two loan agreements for an aggregate amount of $48,000. The loans are subject to the acceptance of the TSX Venture Exchange.
As quoted in the press release:
, the Company has agreed to grant each Lender a bonus by way of issuing common shares in the capital of the Company equal to 10% of the loan amount divided by the discounted market price (the “Bonus Shares”). Accordingly, the Company will issue the Lenders an aggregate of 96,000 Bonus Shares at a deemed price of $0.05 per share. The Bonus Shares will be subject to a hold period of four months and a day from issuance.