Aftermath Closes $20 Million Financing, with Participation by Eric Sprott

Executive Summary

• Aftermath Silver Ltd. closed a brokered “best‑efforts” private placement of 22,222,250 common shares for gross proceeds of $20,000,025.
• Net proceeds will fund further exploration and development at the Berenguela Silver‑Copper‑Manganese project in Peru, complete its pre‑feasibility study, advance other mineral projects, and provide working capital/general corporate purposes.
• A related party purchased 9,900,000 of the shares; the transaction was exempt from valuation and minority‑shareholder approval requirements under TSXV Policy 5.9 and MI 61‑101.

Key Details

• Offering Size: 22,222,250 common shares (≈ $0.90 per share).
• Gross Proceeds: $20,000,025.
• Lead Agents: Research Capital Corporation (co‑lead agent & sole bookrunner) and Red Cloud Securities Inc. (co‑lead agent).
• Exemption Used: Listed Issuer Financing Exemption under NI 45‑106 Part 5A (Coordinated Blanket Order 45‑935). Shares are unrestricted for resale under Canadian securities law.
• Use of Proceeds:
• Exploration and development at the Berenguela Project (southern Peru).
• Completion of a pre‑feasibility study for Berenguela.
• Additional exploration on other mineral projects.
• Working capital and general corporate purposes.
• Related Party Transaction: Related party acquired 9,900,000 shares; deemed a related‑party transaction under TSXV Policy 5.9/MI 61‑101. Fair market value did not exceed 25 % of market cap, so valuation and minority‑shareholder approval exemptions applied. No material change report filed prior to closing (deemed reasonable).
• Commission Paid: Approximately $1,200,000 cash commission paid to the agents.
• Regulatory Condition: Offering subject to final TSX Venture Exchange approval.
• U.S. Securities Law Disclaimer: Shares not registered under U.S. securities laws; cannot be offered/sold in the U.S. absent exemption or registration.

Notable Quotes

• “The net proceeds from this financing will accelerate our exploration program at Berenguela and enable us to advance key milestones toward project development,” – Ralph Rushton, CEO & Director.