Aztec Minerals arranges $5-million private placement

Executive Summary

• Aztec Minerals Corp. announced a bought‑deal private placement of 21.3 million common shares at C$0.235 per share, targeting gross proceeds of $5.005 million.
• The underwriter (Stifel Canada) received an overallotment option for up to an additional 15 % of the offered shares, potentially adding ~$750 k in gross proceeds.
• Net proceeds will fund exploration at the Tombstone (AZ) and Cervantes (MX) projects and provide general working capital; the deal includes a 7 % cash underwriting fee and warrants equal to 7 % of shares sold.

Key Details

• Offering Size: 21.3 million common shares
• Price per Share: C$0.235 (23.5 cents)
• Gross Proceeds: $5,005,500 CAD
• Overallotment Option: Up to 15 % of offered shares; additional gross proceeds up to ~$750,000 CAD if exercised (exercisable ≤48 h before closing).
• Underwriter: Stifel Canada – sole underwriter and bookrunner.
• Closing Date: Expected on or about October 16, 2025, subject to regulatory approvals (including TSX Venture Exchange conditional approval).
• Use of Proceeds:
• Exploration work at Tombstone gold‑silver & CRD silver‑lead‑zinc‑copper‑gold project (Arizona, USA)
• Exploration at Cervantes gold‑copper project (Sonora, Mexico)
• General working capital.
• Underwriting Fees: Cash fee equal to 7 % of gross proceeds (inclusive of overallotment shares).
• Warrant Issuance: On closing, underwriter receives warrants equal to 7 % of the number of shares sold; each warrant allows purchase of one common share at the issue price for 24 months post‑closing.
• Offering Restrictions: Shares offered to Canadian residents under NI 45‑106 prospectus exemptions; may be offered outside Canada if no filing required and no continuous disclosure obligations arise.
• Hold Period: Offered shares subject to a four‑month‑plus‑one‑day hold period under Canadian securities law.

Notable Quotes

(No CEO/President quotes were included in the release.)