Kuya Silver Corporation (OTC:KUYAF) Stock Trends Lower: But Why?
This past Friday, there had been a number of companies that had come into the news cycle for one reason or another, and this morning, it may be a good move for investors to take a look into some of those. One company that is likely to be on the radar of investors is Kuya Silver Corporation (OTC:KUYAF). The company announced on March 15 that the closing date for the second tranche of its non-brokered private placement had been tentatively moved to April 15.
The firm Trafigura had agreed to acquire units for C$0.25 each in order to raise $970,000. Additionally, the company also announced that each unit on offer would be made up of one Kuya Silver Corporation common share and one common share purchase warrant. A Trafigura warrant would entitle its holder to pick up a common share in the company for the price of $0.37 up until 24 months from the date of issuance. It was also revealed that all securities issued as part of the private placement would also be subject to a hold period of four months and a day since the date of issuance.
In this situation, it could also be a good move for investors to note that on February 15, Kuya Silver Corporation announced that its partnership with the Saudi Arabia-based investment firm Sumou Holding had been awarded a key license. The license in question was the mineral exploration license for Umm Hadid, situated in Saudi Arabia. The announcement about the license award had been made by His Excellence Bandar Alkhorayef of the Ministery of Industry and Mineral Resources at the Future Minerals Forum in Riyadh, Saudi Arabia. In 2023, the company was invited to establish a consortium with Sumou Holding with the express aim of bidding on the Umm Hadid project.
