Capitan Silver arranges $20-million financing

Executive Summary

• Capitan Silver Corp. has entered into an agreement for a $20 million bought deal private placement offering of common shares.
• Stifel Canada is acting as the sole bookrunner and lead underwriter for the transaction.
• Net proceeds will be used to finance exploration at the Cruz de Plata gold-silver project and for working capital.

Key Details

• Transaction Structure: Bought deal private placement offering.
• Underwriter: Stifel Canada (sole bookrunner and lead underwriter) together with a syndicate of underwriters.
• Shares Issued: 9,855,000 common shares.
• Issue Price: $2.03 per common share.
• Gross Proceeds: $20,005,650.
• Over-Allotment Option: Underwriters have an option to purchase up to an additional 1,478,250 common shares at $2.03 per share on the same terms.
• Option Expiry: Exercisable up to 48 hours prior to the closing of the offering.
• Use of Proceeds: Financing exploration activities at the Cruz de Plata gold-silver project, working capital, and general corporate purposes.
• Expected Closing Date: On or about Dec. 17, 2025.
• Conditions: Subject to necessary approvals, including acceptance by the TSX Venture Exchange.
• Underwriter Commission: Cash commission of 6% of gross proceeds paid to underwriters.
• Regulatory Basis: Offered pursuant to the listed issuer financing exemption under National Instrument 45-106 (Part 5A).
• Hold Period: No statutory hold period applies to the common shares issued under this exemption.
• Jurisdictions: Offered to purchasers in Canada (except Quebec) and potentially in the US and other jurisdictions via private placement exemptions.

Notable Quotes

• None provided in the text.