Apollo Silver increases financing to $27.5-million

Executive Summary

• Apollo Silver Corp. has upsized its previously announced non-brokered private placement by $2.5 million, bringing total aggregate gross proceeds to $27.5 million.
• The offering consists of up to 5.5 million units priced at $5.00 per unit, with primary participation from insiders, including Eric Sprott and a Jupiter Asset Management fund.
• Proceeds will be used for exploration, development, and general working capital, subject to TSX Venture Exchange regulatory approval.

Key Details

• Total Gross Proceeds: Up to $27.5 million.
• Upsize Amount: Additional $2.5 million added to the previous offering.
• Unit Price: $5.00 per unit.
• Total Units Issued: Up to 5.5 million units.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant allows the purchase of one share at an exercise price of $7.00 for 24 months from the closing date.
• Insider Participation:
  • Eric Sprott and a Jupiter Asset Management fund are subscribing for 2.5 million units each.
  • Combined gross proceeds from these two investors: $25 million.
  • Post-closing ownership (undiluted): Jupiter Fund ~12%, Mr. Sprott ~9.5%.
• Hold Period: Four-month hold period from the date of closing for all securities issued.
• Use of Proceeds: Financing exploration and development activities across company projects, general working capital, and corporate purposes.
• Regulatory Status: Closing is subject to regulatory approval, including that of the TSX Venture Exchange.
• Related Party Transaction: The insider participation constitutes a related party transaction under Multilateral Instrument 61-101, exempt from valuation and minority shareholder approval requirements under specific sections of the instrument.

Notable Quotes

• No direct quotes from the CEO/President were included in the provided text.