Apollo Silver closes final tranche of financing

Executive Summary

• Apollo Silver Corp. has closed the second and final tranche of its upsized non-brokered private placement, bringing total gross proceeds to $27.5 million.
• Jupiter Asset Management invested $12.5 million in the final tranche, acquiring 2.5 million units at $5.00 per unit.
• Net proceeds will be allocated to advancing the Calico silver project in California, supporting community relations at the Cinco de Mayo project in Mexico, covering property maintenance, and general corporate purposes.

Key Details

• Total Gross Proceeds: $27.5 million (fully subscribed)
• Final Tranche Proceeds: $12.5 million
• Units Issued: 2.5 million units at $5.00 per unit
• Lead Investor: Jupiter Asset Management (fund managed by Jupiter)
• Jupiter's Total Stake: 7,452,456 common shares and 3,807,200 common share purchase warrants (~11.9% non-diluted, ~16.9% partially diluted)
• Warrant Terms: 1 warrant per unit, exercisable at $7.00 per share for 24 months from closing
• Finders' Fees: $312,500 paid to BMO Capital Markets
• Hold Period: 4 months from the date of closing
• Regulatory Status: Subject to final acceptance by the TSX Venture Exchange
• Use of Proceeds: Advancement of the Calico silver project (San Bernardino, CA); community relations initiatives at the Cinco de Mayo silver project (Chihuahua, Mexico); continuing property maintenance costs at both projects; and general corporate purposes

Notable Quotes

• "We welcome and appreciate the continued participation of Jupiter fund, as a key shareholder of Apollo Silver. Jupiter fund's commitment is a strong statement of support as we continue to advance our large-scale, high-quality silver assets in stable jurisdictions." — Ross McElroy, President and CEO