Capitan Silver Announces Closing of C$23 Million Bought Deal Financing, Including Full Exercise of the Underwriters' Option

Executive Summary

• Capitan Silver Corp. closed a bought‑deal private placement of 11,333,250 common shares at C$2.03 per share, generating gross proceeds of C$23.01 million.
• Net proceeds will fund exploration at the Cruz de Plata gold‑silver project and provide working capital/general corporate purposes.
• Underwriters received a cash commission of approximately C$1.37 million; the offering is subject to final acceptance by the TSX Venture Exchange.

Key Details

• Offering size: 11,333,250 common shares (including full exercise of underwriter option).
• Price per share: C$2.03.
• Gross proceeds: C$23,006,497.50.
• Underwriters: Lead bookrunner – Stifel Canada; co‑underwriters – TD Securities Inc., BMO Capital Markets, Canaccord Genuity Corp.
• Use of proceeds: Primarily to fund exploration activities at the Cruz de Plata project; remainder for working capital and general corporate purposes (as detailed in the Amended and Restated Offering Document).
• Commission paid to underwriters: Approx. C$1,372,473 cash.
• Related‑party participation: Insiders Robert Scott, Graham Scott, Michael Gentile, and Jupiter Gold & Silver Fund subscribed for a total of 2,060,000 shares; transaction qualifies as a related‑party transaction under MI 61‑101 but is exempt from valuation/minority‑shareholder approval requirements.
• Regulatory exemptions: Shares issued under the Listed Issuer Financing Exemption (NI 45‑106) in Canada and private placement exemptions in the U.S. and other jurisdictions; no statutory hold period, though insider shares are subject to a TSX Venture Exchange hold until 2026‑04‑18.
• Closing conditions: Subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

“We are fully funded and actively drilling at our Cruz de Plata Silver project.” – Alberto Orozco, CEO

All non‑material boilerplate, forward‑looking disclaimer text, and company background have been omitted for brevity.