Apollo Silver Closes $26.78 Million Private Placement Offering

Executive Summary

• Apollo Silver Corp. closed the final tranche of its upsized non‑brokered private placement, raising $1,641,503 in gross proceeds (455,973 units at $3.60 per unit).
• Combined with the first tranche, the Upsized Offering generated total gross proceeds of $26,775,648 from 7,437,680 units.
• Net proceeds will be used to advance the Calico Silver Project (California), support community relations and surface‑access work at the Cinco de Mayo Project (Mexico), cover property maintenance costs, and for general corporate purposes.

Key Details

• Final Tranche Size: $1,641,503 gross; 455,973 units issued at $3.60 per unit.
• First Tranche Reference: $25,134,145 gross proceeds (previously announced Oct 22, 2025).
• Aggregate Offering: $26,775,648 gross proceeds; 7,437,680 units total.
• Unit Composition: Each unit = 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $5.50 per share; exercisable for 24 months from closing; acceleration provision if TSXV price ≥ $7.50 for ten consecutive trading days after four months + one day, allowing expiry 30 days after notice.
• Finder’s Fees: $901,395.18 payable in cash and/or units to BMO Capital Markets, Canaccord Genuity, Red Cloud Securities Inc., Research Capital Corporation, and SCP Resource Finance.
• Hold Period: Four‑month hold on securities from closing date.
• Use of Proceeds:
• Advance Calico Silver Project (San Bernardino County, CA)
• Support community relations & surface access at Cinco de Mayo Project (Chihuahua, MX)
• Ongoing property maintenance for both projects
• General corporate purposes
• Insider Participation: 405,557 units (gross $1,460,005.20); qualifies as a related‑party transaction under MI 61‑101 but exempt from valuation and minority‑shareholder approval requirements.
• Regulatory Notes: Offering subject to final TSXV approval; securities not registered in the U.S.; cannot be offered/sold in the U.S. without registration or exemption.

Notable Quotes

“We are very pleased with the strong interest in our private placement and deeply appreciate the confidence shown by the institutional, retail, and strategic investors who have backed management’s vision to advance our Tier 1 assets,” – Ross McElroy, President & CEO.

Materiality Assessment: Material – Positive (significant financing that materially funds project advancement).