Prospero Silver Corp.
Prospero Silver Corp.
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 December 15, 2009
Prospero Silver Corp. Completes Pre-IPO Financing

 Prospero Silver Corp. ("Prospero") announces that it has completed the non-brokered private placement (the "Private Placement") of units ("Units") as disclosed in its final prospectus dated November 27, 2009 (the "Prospectus"). The completion of the private placement was subject to a receipt being issued for the Prospectus, which receipt was issued on November 27, 2009. Prospero has issued a total of 3,452,412 Units at a price of $0.35 per Unit for aggregate gross proceeds of $1,208,344.20. Each Unit consists of one common share ("Common Share") and one non-transferable share purchase warrant ("Warrant"), with each whole Warrant entitling the holder to purchase one Common Share for a term of 12 months at a price of $0.50 per Common Share.

In connection with the Private Placement, Prospero entered into a finder's fee agreement with an arm's length finder pursuant to which the finder received a cash fee equal to 6% of the gross proceeds of the Private Placement from subscribers introduced to Prospero by the Finder and such number of warrants that is equal to 6% of the aggregate number of Units issued to subscribers introduced to Prospero by the finder ("Finder's Warrants"). Each Finder's Warrant has the same terms as the Private Placement Warrants. Prospero placed 2,115,000 Units through the efforts of the finder. Accordingly, Prospero paid a cash fee totalling $44,415 and issued 126,900 Finder's Warrants to the finder.

The Common Shares, Warrants, Finder's Warrants and any Common Shares acquired on exercise of the Warrants or Finder's Warrants are subject to a 4 month hold period expiring on April 11, 2010.

The proceeds from the Private Placement will be used for the purposes set forth in the Prospectus. A copy of the Prospectus can be viewed on SEDAR (

About Prospero Silver Corp.

Prospero is a mineral exploration company. The Company currently holds an option to acquire a 100% interest in the Cordero Property, located near San Luis del Cordero in Durango State, Mexico. The Company's principal focus is on the Cordero Property located in Mexico. In addition to the development of the Cordero Property, the further objective is on the discovery and development of new mining projects in Mexico which involve either grass roots exploration or assemblage of land packages on prospective ground.

For further information please contact Warwick Smith, Vice-President, Corporate Development, at 604-484-4954.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

You can view the Next News Releases item: Wed Dec 23, 2009, Prospero Silver Corp. Completes Initital Public Offering

You can view the Previous News Releases item: Mon Nov 30, 2009, Prospero Silver Corp. Files Final Prospectus

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