Apollo Silver Announces Correction to Warrant Terms of $25 Million Strategic Investment by Eric Sprott and Jupiter Asset Management

Executive Summary

• Apollo Silver Corp. issued a clarification regarding its previously announced non-brokered private placement, confirming that each unit consists of one common share and one full common share purchase warrant (correcting a prior announcement of one-half warrant).
• The company raised aggregate gross proceeds of $25,000,000 from the sale of 5,000,000 units at a price of $5.00 per unit.
• Net proceeds are intended to fund exploration and development activities across the Company’s projects, as well as for general working capital and corporate purposes.

Key Details

• Transaction Structure: Non-brokered private placement offering of 5,000,000 units.
• Price: $5.00 per unit.
• Gross Proceeds: $25,000,000.
• Unit Composition: Each unit consists of one common share and one full common share purchase warrant (clarified from an initial announcement of one-half warrant).
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $7.00.
• Warrant Expiry: 24 months from the closing date of the offering.
• Hold Period: All securities are subject to a four-month hold period from the date of closing.
• Use of Proceeds: Funding exploration and development activities across the Company’s projects, general working capital, and corporate purposes.
• Regulatory Status: Closing is subject to regulatory approval, including that of the TSX Venture Exchange (TSXV).
• Finder’s Fees: May be payable on some or all funds raised, in accordance with TSXV policies.

Notable Quotes

• "Apollo Silver wishes to clarify that each Unit issued pursuant to the Offering will consist of one common share (a “Share”) in the capital of the Company and one full common Share purchase warrant (a “Warrant”) rather than a one half Warrant as originally announced."