Apollo Silver Closes Second and Final Tranche of $27.5 Million Private Placement Offering, with a $12.5 Million Investment from Jupiter Asset Management

Executive Summary

• Apollo Silver Corp. closed the second and final tranche of its upsized non‑brokered private placement, issuing 2,500,000 units at $5.00 each for gross proceeds of $12.5 million.
• The total offering is now fully subscribed with aggregate gross proceeds of $27.5 million, bringing new capital to fund the Calico Silver Project, community initiatives at Cinco de Mayo, and general corporate purposes.
• Jupiter Fund now holds approximately 11.9% (non‑diluted) or 16.9% (partially diluted) of Apollo’s common equity, reinforcing its position as a key shareholder.

Key Details

• Units Issued – Final Tranche: 2,500,000 units @ $5.00 per unit → $12,500,000 gross proceeds.
• Total Offering Size: Fully subscribed for $27,500,000 in aggregate gross proceeds (including the first tranche).
• Unit Composition: Each unit = 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $7.00 per share; exercisable for 24 months from closing date.
• Investor Participation: Jupiter Asset Management fund subscribed to the entire final tranche.
• Resulting Ownership (Jupiter Fund):
• 7,452,456 common shares
• 3,807,200 common share purchase warrants
• ~11.9% of outstanding common shares on a non‑diluted basis; ~16.9% on a partially diluted basis assuming warrant exercise.
• Finder’s Fees Paid: $312,500 to BMO Capital Markets in connection with the final tranche.
• Hold Period: Securities issued are subject to a four‑month hold period from closing.
• Use of Proceeds:
• Advance the Calico Silver Project (San Bernardino, CA)
• Support community relations at Cinco de Mayo Silver Project (Chihuahua, MX)
• Cover ongoing property maintenance costs for both projects
• General corporate purposes.
• Closing Conditions: Subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

“We welcome and appreciate the continued participation of Jupiter Fund, as a key shareholder of Apollo Silver,” said Ross McElroy, President and CEO. “Jupiter Fund’s commitment is a strong statement of support as we continue to advance our large‑scale, high‑quality silver assets in stable jurisdictions.”