Argenta Silver closes $23-million private placement

Executive Summary

• Argenta Silver Corp. closed a bought deal private placement raising C$23 million in gross proceeds, including the full exercise of the overallotment option.
• The offering issued 28.75 million common shares at C$0.80 per share, with underwriters receiving C$1.38 million in cash fees and 1.725 million non-transferable warrants.
• The release includes updated early warning reports for major shareholders Frank Giustra and Eduardo Elsztain, confirming their ownership diluted below the 10% threshold, alongside a detailed overview of the El Quevar project's infrastructure and mineral resource estimates.

Key Details

• Gross Proceeds: C$23 million (includes full exercise of overallotment option)
• Shares Issued: 28.75 million common shares
• Offering Price: C$0.80 per share
• Underwriters: Red Cloud Securities Inc. (lead underwriter/sole bookrunner) and Raymond James Ltd.
• Underwriter Compensation: Aggregate cash fees of $1.38 million and 1,725,000 non-transferable common share purchase warrants
• Warrant Terms: Each warrant exercisable into one common share at C$0.80/share, exercisable on or before Jan. 22, 2028
• Regulatory Exemption: Issued under the listed issuer financing exemption (Part 5A of NI 45-106); shares are immediately freely tradeable in Canada
• Early Warning - Frank Giustra: Ownership diluted from 11.34% to 9.89% of outstanding shares (9.96% on a partially diluted basis); no longer deemed a 10% holder, terminating early warning filing requirements
• Early Warning - Eduardo Elsztain: Ownership diluted from 12.57% to 9.74% of outstanding shares (12.27% on a partially diluted basis)
• El Quevar Project Location: Salta, Argentina, spanning 57,000 hectares
• Project Infrastructure: Over 60 km of internal roads, fully owned/operational camp for 100 workers, railroad/gas pipeline/service road 3 km from camp, high-voltage transmission line ~20 km away
• Yaxtche Deposit Mineral Resource (Indicated): 45.3 million ounces of silver from 2.93 million tonnes grading 482 g/t Ag
• Yaxtche Deposit Mineral Resource (Inferred): 4.1 million ounces from 310,000 tonnes grading 417 g/t Ag
• Mineralization Style: Silver-rich, high-to-intermediate-sulphidation epithermal system with associated gold, controlled by fault structures and hosted in brecciated zones and dacite domes
• Qualified Person: Rob van Egmond, PGeo (NI 43-101 compliant)
• Regulatory Status: Closing remains subject to final approval of the TSX Venture Exchange