First Andes arranges $2-million private placement

Executive Summary

• First Andes Silver Ltd. has arranged a private placement financing of up to $2 million through the issuance of up to 16,666,667 common shares.
• The shares are priced at 12 cents per share, with net proceeds designated for drilling programs, exploration, claim payments, and working capital.
• The transaction is conducted under the listed issuer financing exemption and is subject to TSX Venture Exchange acceptance.

Key Details

• Financing Structure: Private placement of up to 16,666,667 common shares.
• Price: 12 cents per common share.
• Gross Proceeds: Up to $2,000,000.
• Regulatory Basis: Listed issuer financing exemption under Section 5A.2 of National Instrument 45-106, as amended by Coordinate Blanket Order 45-935.
• Finder’s Fees: Finders may receive cash fees and share purchase warrants.
• Warrant Terms: Each finder's warrant is exercisable at $0.12 per share for a period of two years from the date of issue.
• Use of Proceeds:
  1. Augmented second quarter 2026 drilling program at the Santas Gloria property.
  2. Exploration work at the Santas Gloria property.
  3. Annual mineral claim payments in Peru.
  4. General working capital purposes.
• Conditions: Closing is subject to acceptance by the TSX Venture Exchange.
• Documentation: An offering document is available under the company's profile at SEDAR+ and on the company's website.

Notable Quotes

• No direct quotes from management were included in the provided text.