THOMPSON FALLS, Mont.--(BUSINESS WIRE)--United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) has placed 2,453,288 shares at $1.40 with institutional and accredited private investors to raise gross proceeds of $3,434,603. Initial funds are being used to increase Mexican smelting capacity by 50% to process a large inventory of smelter feed in Mexico. Thereafter, funds will be used to further increase smelter production several fold, increase Mexican mine production, resume mining the Los Juarez silver-antimony-gold property, and complete the installation of the 500 ton per day mill.
Production from a Canadian supplier has increased approximately 70%. All production from Mexico is now in the form of metal which will decrease costs, and provide an excellent grade metal.
Chief Executive Officer, John Lawrence, commented, “In the third quarter production is at record levels and will increase even further with the commissioning of the new smelter capacity.”
Forward Looking Statements:
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.