First Andes Silver Announces $2 Million Private Placement Financing

Executive Summary

• First Andes Silver Ltd. announced a private placement of up to 16,666,667 common shares at $0.12 per share, targeting gross proceeds of up to $2 million.
• Net proceeds are earmarked for an expanded Q2‑2026 drilling program and additional exploration work at the Santas Gloria Property in Peru, as well as claim payments and general working capital.
• The offering is being conducted under the listed issuer financing exemption (LIFE) and may include finder’s fees payable in cash and share purchase warrants exercisable at $0.12 per share for two years.

Key Details

• Offering Size: Up to 16,666,667 common shares.
• Price per Share: $0.12.
• Maximum Gross Proceeds: $2,000,000.
• Exemption Used: Listed Issuer Financing Exemption (Section 5A.2 NI 45‑106) with Coordinate Blanket Order 45‑935.
• Finder’s Compensation: Cash and share purchase warrants; each warrant exercisable at $0.12 per share for a two‑year period.
• Use of Proceeds:
• Augmented Q2 2026 drilling program at Santas Gloria Property.
• Additional exploration work on the same property.
• Annual mineral claim payments in Peru.
• General working capital.
• Closing Conditions: Subject to acceptance by the TSX Venture Exchange.
• Contact: Colin Smith, CEO & Director – Phone: 604‑806‑0626 ext. 108; Email: [email protected].

Notable Quotes

(No direct quotes were provided in the release.)