Highlander Silver Closes $86 Million Bought Deal Public Offering

Executive Summary

• Highlander Silver Corp. closed a bought‑deal public offering of 23 million common shares at C$3.75 per share, raising gross proceeds of C$86.25 million.
• The underwriters received an option to purchase up to an additional 2.33 million shares on the same terms, exercisable until 30 days after closing.
• Net proceeds are earmarked for advancing exploration and development at the San Luis gold‑silver project in Peru, as well as property acquisition, working capital and general corporate purposes.

Key Details

• Offering Size & Price: 23,000,000 common shares sold at C$3.75 per share.
• Gross Proceeds: C$86,250,000.
• Underwriter Option: Up to 2,330,000 additional shares at the same price; option exercisable in whole or in part any time prior to 30 days after closing.
• Lead Underwriter & Syndicate: National Bank Financial Inc. (lead underwriter and sole bookrunner) with participation from Canaccord Genuity Corp., Velocity Trade Capital Ltd., CIBC World Markets Inc., Ventum Financial Corp., BMO Nesbitt Burns Inc., and Cormark Securities Inc.
• Use of Proceeds:
• Fund exploration, development activities, project studies and permitting for the San Luis gold‑silver project (Peru).
• Support property investigation and acquisition initiatives.
• Provide working capital and general corporate purposes.
• Regulatory Filing: Offering completed in all Canadian provinces/territories except Quebec under a prospectus supplement to the short‑form base shelf prospectus dated April 10, 2025; U.S. portion conducted as a private placement exempt from registration.
• Related Party Participation: Certain insiders subscribed for shares; transactions qualified as “related party” under MI 61‑101 with exemptions applied (fair market value ≤ 25 % of market cap). No material change report filed prior to closing due to late finalization of insider participation details.
• CEO Comment: Daniel Earle highlighted strong shareholder support, oversubscription, and the ability to substantially fund San Luis plans, community development, infrastructure, and growth capacity.

Notable Quotes

“The oversubscribed offering puts us in the enviable position of substantially funding our San Luis plans, with major investments in community development and infrastructure, while accelerating our capacity for growth.” – Daniel Earle, President & CEO

Materiality Assessment: Material – Positive (significant financing that materially enhances the company’s ability to advance its flagship project).