Paramount Gold and Silver Corp. (TSX:PZG) has announced that its largest shareholder, FCMI, has exercised its remaining 7.7 million share purchase warrants at the exercise price of C$1.05 each for total of C$8 million to go to Paramount.
As quoted in press release: Christopher Crupi, CEO
We are delighted to have the continuing support of FCMI as we move forward with our two key assets–the San Miguel project in northern Mexico and the Sleeper project in Nevada. This warrant exercise enables us to complete our planned 2013 programs at both projects without the need for additional financing. We look forward to adding substantial value to these assets this year.