Summa Silver Corp. (TSXV:SSVR) announced a non-brokered private placement of 8,000,000 units at a price of CAD 1 per unit for gross proceeds of CAD 8,000,000 on February 1, 2021. Each unit will be comprised of one common share of the company and one-half of one common share purchase warrant. Each warrant shall be exercisable to acquire one common share at a price of CAD 1.75 per warrant share for a period of 18 months from the closing of the offering. Closing of the offering is subject to regulatory approval and all securities to be issued pursuant to the offering will be subject to a four-month hold period under applicable Canadian securities laws. The company may pay finder's fees to Eventus Capital Corp. and Mackie Research Capital Corp. commensurate with regulatory policies on a portion of the offering of up to 6% in cash and 6% in finder's warrants exercisable for one common share at an exercise price of CAD 1.00 for two years closing of the offering is expected to occur on or about February 16, 2021 and is subject to certain customary conditions including, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange. If the closing price of the common shares is at a price equal to or greater than CAD 3 for a period of ten consecutive trading days, the company will have the right to accelerate the expiry date of the warrants by giving notice, via a news release, to the holders of the warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.