Apollo Silver increases private placement to $26.77M

Executive Summary

• Apollo Silver Corp. upsized its non‑brokered private placement to up to 7,437,680 units at $3.60 per unit, targeting gross proceeds of up to $26.78 million.
• Each unit includes one common share and one warrant (exercise price $5.50, exercisable for 24 months; acceleration clause if TSX‑V price ≥ $7.50 for 10 consecutive days).
• Net proceeds will be used to advance the Calico silver project (CA, USA), support community relations at Cinco de Mayo (Chihuahua, Mexico), cover ongoing property maintenance, and fund general corporate purposes.

Key Details

• Offering Size: Up to 7,437,680 units (previously announced size increased).
• Price per Unit: $3.60 → Gross proceeds up to $26,775,648.
• Unit Composition:
• 1 common share of Apollo Silver Corp.
• 1 common share purchase warrant.
• Warrant Terms:
• Exercise price: $5.50 per share.
• Expiry: 24 months from closing date.
• Acceleration provision: If, after the fourth month post‑closing, TSX‑V closing price ≥ $7.50 for 10 consecutive trading days, Apollo may accelerate expiry to 30 days after notice.
• Hold Period: All securities subject to a four‑month hold period from closing.
• Insider Participation: Includes related‑party transaction under MI 61‑101; exempt from formal valuation and minority shareholder approval requirements (issuance ≤ 25 % of market cap).
• Use of Proceeds:
• Advance the Calico silver project in San Bernardino County, California.
• Support community‑relations initiatives at Cinco de Mayo project, Chihuahua, Mexico.
• Cover continuing property maintenance costs for both projects.
• General corporate purposes.
• Closing Conditions: Subject to final regulatory approvals, including TSX‑V clearance.

Notable Quotes

(No executive quotes were provided in the release.)