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Great Panther Silver upsizes financing to US$26M

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Great Panther Silver upsizes financing to US$26M

Great PantherSilver Ltd. said July 6 that increased demand has prompted it toincrease the size of its previously announced bought-deal offering of units toUS$26 million, from US$20 million.

The underwriters have agreed to buy 16,250,000 units atUS$1.60 per unit, which consists of 1 Great Panther common share and 0.5 of 1common share purchase warrant. Each warrant entitles a holder to buy 1 GreatPanther common share at the exercise price of US$2.25 per share for a period of18 months after the closing of the offering, which is expected to occur July 12.

The underwriters were granted an overallotment option to buyup to an additional 2,437,500 units at the issue price per unit, for a period ofup to 30 days after the closing of the offering for additional aggregateproceeds to Great Panther of up to US$3.9 million.

The company plans to use the net proceeds of the offeringtogether with its current cash resources to fund operating, development andexploration expenditures at its mining operations and projects, for possiblefuture acquisitions and for general corporate and working capital purposes.

Cantor Fitzgerald Canada Corp. and H.C. Wainwright & Co.LLC unit Rodman & Renshaw are joint book runners while Euro Pacific CapitalInc. and Sprott Private Wealth LP are co-managers in the offering.