• Editor’s Pick
  • Investing
  • Economy
  • Stock
  • Politics
Income Researchers
Investing

Prismo Metals Announces Closing of Private Placement and Further Upsizing

by July 31, 2025
July 31, 2025

 

(TheNewswire)

 

       

  Prismo Metals Inc. 
                     

 

Vancouver, British Columbia, July 31st, 2025 TheNewswire – Prismo Metals Inc. (‘ Prismo ‘ or the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news releases dated July 3, 2025 and July 18, 2025, the Company has proceeded with an upsized second closing of its previously announced non-brokered private placement of units of the Company (‘ Units ‘) at an issue price of $0.05 per Unit (the ‘Private Placement’ ). The second closing of the Private Placement was increased from 2,000,000 Units to the issuance of 2,340,000 Units for gross proceeds of $117,000. The Company previously announced a first closing of the Private Placement on July 18, 2025 for aggregate gross proceeds of $575,000. Due to strong investor demand, the Company has now raised aggregate gross proceeds of $692,000 through the sale of an aggregate of 13,840,000 Units.

 

  Each Unit consists of one common share of the Company (a ‘   Share   ‘) and one-half of one common share purchase warrant of the Company (each whole warrant, a ‘   Warrant   ‘). Each Warrant entitles the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.  

 

  The Company further announces that it has received commitments for and intends to complete an additional private placement through the issuance of 6 million units of the Company at an issue price of $0.06 per unit for additional gross proceeds of $360,000, which is expected to close on or about   August 7   th   , 2025 (the ‘   Third Closing   ‘). Each $0.06 unit will be comprised of one Share and one-half of one Warrant.  

 

  The Company intends to use the aggregate proceeds from the Private Placement (including the Third Closing) for exploration at the Company’s Silver King project as well as for working capital and general corporate purposes. There may be circumstances, however, where for sound business reasons, a reallocation of funds may be necessary. The gross proceeds from the three closings will total $1,052,000 and reflects investors’ interest in Prismo’s recently optioned silver projects in Arizona, the historical high-grade Silver King and Ripsey mines.  

 

  Dr. Craig Gibson, Prismo’s Chief Exploration Officer said: ‘The team has arrived on site, and we are about to begin a detailed mapping and sampling program at both projects at surface exposures and in accessible underground workings. A drill program is planned for Silver King, with about 1,000 metres initially. The Silver King drill program is designed to test the mineralized body at four elevations, as well as lateral to the pipelike body. Dewatering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.’  

 

  Prismo also announces that it has entered into a debt settlement agreement (the ‘   Agreement   ‘) with a creditor of the Company (the ‘   Creditor   ‘) pursuant to which the Company agreed to issue to the Creditor, and the Creditor agreed to accept, an aggregate of 1,375,000 common shares of the Company (each, a ‘   Settlement   Share   ‘) at a price of $0.06 per Settlement Share in full and final settlement of accrued and outstanding indebtedness owing to the Creditor in the aggregate amount of US $60,000 (CA $82,500) (the ‘   Debt Settlement   ‘). The Creditor is one of the original optionors of the Palos Verdes silver project in Mexico, and the Debt Settlement is for the final payment owed to the Creditor.  

 

  ‘The Palos Verdes project remains an important asset for Prismo Metals,’ said Alain Lambert, CEO. ‘We continue to monitor Vizsla Silver’s exploration activities in the Panuco district and   how it might impact our exploration plan at Palos Verdes. Mr. Lambert noted: ‘In     their July 29     th     , 2025 news release     , Vizsla Silver stated:   Notable targets to be tested in the central, and east area of the district with potential to host similar mineral resources to that outlined in Project #1 in the west include: Jesusita-Palos Verdes is a northeast trending vein target in the east area of the district. Positive drill results and alteration-based interpretations done by Prismo Metals, combined with significant silver anomalies on surface and extensive vein outcrops warrant additional drilling at depth.   ‘  

 

  The Palos Verdes project is located in the historic Panuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia. The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein, a member of the north-easterly trending vein family located in the eastern part of the district outside of the area of modern exploration. The project is surrounded on three sides by Vizsla Silver Corp. (TSE: VZLA).  

 

  Shallow drilling (

 

  In connection with the second closing of the Private Placement, the Company issued an aggregate of   12,000   finder’s warrants (the   ‘Finder’s Warrants’   ) and paid finder’s commissions of $600   to certain qualified finders. Each Finder’s Warrant is exercisable for a period of 24 months from the date of issuance to purchase one Share at a price of $0.10.  

 

  All securities issued or issuable in connection with the Private Placement and the Third Closing and the Debt Settlement are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.  

 

  Qualified Person  

 

  All scientific and technical information in this news release has been reviewed and approved by Dr. Craig Gibson, Chief Exploration Officer of the Company, PhD., CPG, and a ‘qualified person’ for the purposes of National Instrument 43-101.  

 

  About Prismo Metals Inc.  

 

   Prismo (CSE: PRIZ,OTC:PMOMF) is mining exploration company focused on three silver projects (Palos Verdes, Silver King and Ripsey) and a copper     project in Arizona (Hot Breccia).   

 

   Please follow @PrismoMetals on     ,     ,     ,      Instagram      , and   

 

   Prismo Metals Inc.   

 

   1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6   

 

   Phone: (416) 361-0737   

 

   Contact:   

 

   Alain Lambert, Chief Executive Officer     alambert@cpvcgroup.ca   

 

  Gordon Aldcorn, President     gordon.aldcorn@prismometals.com    

 

  Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.  

 

  Cautionary Note Regarding Forward-Looking Information  

 

  This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, the intended use of any proceeds raised under the Private Placement, the issuance of the Settlement Shares, the Company’s exploration plans at the Palos Verdes project and the completion of and use of proceeds from the Third Closing.  

 

  These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated and the risk that the Company will not complete the Third Closing.  

 

  Although management of the Company has attem   pted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.  

 

  NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
 

 

Copyright (c) 2025 TheNewswire – All rights reserved.

 

 

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com
previous post
North Shore Uranium: Unlocking Value Across Two World-class Uranium Districts in North America
next post
North Shore Uranium

Related Posts

Top 5 Canadian Mining Stocks This Week: Helius...

August 2, 2025

Quimbaya Gold Announces Termination of LOI with Denarius...

August 2, 2025

Crypto Market Update: Markets Pull Back After Fed...

August 1, 2025

Silver Crown Provides Corporate Update

August 1, 2025

Albemarle Swings to Profit, Lowers Spending Amid Prolonged...

August 1, 2025

Crypto Market Update: Coinbase Misses Q2 Revenue Target,...

August 1, 2025

Eric Sprott Announces Securities of Summa Silver Corp.

August 1, 2025

Zinc Price Update: H1 2025 in Review

August 1, 2025

Anglo American’s Losses Widen with Diamond Slump, Trade...

August 1, 2025

Element79 Gold Corp Announces Execution of Definitive Agreement...

August 1, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Top 5 Canadian Mining Stocks This Week: Helius Metals Jumps 67 Percent

      August 2, 2025
    • Quimbaya Gold Announces Termination of LOI with Denarius Metals

      August 2, 2025
    • Crypto Market Update: Markets Pull Back After Fed Holds Interest Rates Steady

      August 1, 2025
    • Silver Crown Provides Corporate Update

      August 1, 2025
    • Iran says it has ‘plenty of scientists’ left to restart uranium enrichment, despite US, Israeli strikes

      August 1, 2025

    Archives

    • August 2025 (31)
    • July 2025 (790)
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 incomeresearchers.com | All Rights Reserved

    Income Researchers
    • Editor’s Pick
    • Investing
    • Economy
    • Stock
    • Politics

    Read alsox

    Freegold Significantly Upgrades and Expands Resources at Golden...

    July 24, 2025

    Michael Kott Acquires Common Shares of Pinnacle Silver...

    July 15, 2025

    Juggernaut Closes $1,000,000 $0.64 Unit Private Placement Financing

    July 17, 2025