Silver Tiger Metals closes $28.77-million financing

Executive Summary

• Silver Tiger Metals Inc. closed a bought‑deal financing of 39,962,500 common shares at C$0.72 per share, raising approximately C$28.8 million (≈ US$28.8 million).
• Proceeds are earmarked for exploration and development at the El Tigre project in Mexico, as well as working capital and general corporate purposes.
• The offering was executed via a short‑form prospectus with a syndicate led by Stifel Nicolaus Canada Inc., featuring tiered commission rates (6 % standard, reduced rates on up to US$5 million of certain orders).

Key Details

• Shares sold: 39,962,500 common shares
• Price per share: C$0.72
• Gross proceeds: ~C$28,773,000 (≈ US$28.8 million)
• Underwriters:
• Lead bookrunner – Stifel Nicolaus Canada Inc. (sole bookrunner)
• Co‑lead – Desjardins Capital Markets
• Additional – BMO Capital Markets, Ventum Financial Corp.
• Commission structure:
• Standard cash commission – 6 % of gross proceeds
• Reduced commission – up to US$3 million at 3 % and up to US$2 million at 5 % for certain company‑arranged orders
• Use of proceeds:
• Finance exploration and development activities at the El Tigre project (Mexico)
• Working capital
• General corporate purposes
• Offering method: Completed by short‑form prospectus in all Canadian provinces except Quebec, and outside Canada per applicable securities laws.
• Project background (contextual):
• El Tigre is a 28,414‑hectare historic mining district owned 100 % by Silver Tiger.
• October 2024 prefeasibility study projects after‑tax NPV of US$222 million, IRR of 40 %, payback of 2 years, and a 10‑year mine life.
• Qualified Person: David R. Duncan, P.Geo., Vice‑President of Exploration (NI 43‑101).

Notable Quotes

(No direct quotes were provided in the release.)