PSL Prospero Silver Corp

Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased
to announce that it intends to complete a non-brokered private placement of up
to 7,000,000 units at a price of $0.10 per unit, for an aggregate gross proceeds
of up to CDN $700,000. Each unit will consist of one common share and one half
warrant, each whole warrant exercisable by the holder to acquire one additional
common share at a price of $0.20 for a period of 18 months from of the date of
closing.


If for any time from four months and one day after the closing of the financing,
the volume weighted average trading price of the Company's common shares on the
TSX Venture Exchange over a period of 20 consecutive trading days exceeds $0.20
the Company may, within five days of such event, provide notice to the warrant
holders that the warrants will expire early, namely on the date which is 30
calendar days after the date of such notice to the warrant holders.


A finder's fee may be paid on all or part of the placement. The finder's fee
will consist of 6% cash and 6% one half warrants, each whole warrant will
entitle the holder to purchase one common share at $0.20 exercisable for a
period of 18 months from the date of closing.


The Company plans to use the net proceeds from this private placement to
continue the mapping, sampling and magnetic ground work on the Santa Maria Del
Oro project and for general working capital purposes.


This proposed financing is subject to the approval of the TSX Venture Exchange.

About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in
Mexico and who work for its wholly owned subsidiary Minera Fumarola, SA de CV
(Fumarola). Prospero's objective is to quickly evaluate the properties currently
optioned for their suitability to provide size potential and/or amenability for
strategic joint ventures.


Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the
meaning of Canadian securities legislation, relating to the closing of a
non-brokered private placement and the use of the net proceeds from such
financing. Although the Company believes that such statements are reasonable, it
can give no assurance that such expectations will prove to be correct.
Forward-looking statements are statements that are not historical facts; they
are generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar expressions, or
that events or conditions "will", "would", "may", "can", "could" or "should"
occur, or are those statements, which, by their nature, refer to future events.
Factors that could cause actual results to differ materially from these
forward-looking statements include, but are not limited to, the Company's
inability to secure sufficient subscriptions from investors to complete the
above-described private placement, variations in the nature, quality and
quantity of any mineral deposits that may be located, the Company's inability to
obtain any necessary permits, consents or authorizations required for its
planned activities, and the Company's inability to raise the necessary capital
or to be fully able to implement its business strategies. The reader is referred
to the Company's reports, publicly available through the Canadian Securities
Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at
www.sedar.com, including the risk factors discussed in Prospero's November 27,
2009 prospectus. Except as required by securities laws and the policies of the
TSX Venture Exchange, Prospero disclaims any intention or obligation to update
or revise any forward-looking statement, whether as a result of new information,
future events or otherwise.

Prospero Silver (TSXV:PSL)
Historical Stock Chart
From Jun 2024 to Jul 2024

Prospero Silver (TSXV:PSL)
Historical Stock Chart
From Jul 2023 to Jul 2024