Highlander's placement rises to $94.9M w/ overallotment

Executive Summary

• Highlander Silver Corp. has fully exercised the underwriters' over-allotment option for its previously announced bought deal public offering, resulting in the issuance of an additional 2.33 million common shares.
• The company received additional gross proceeds of $8,737,500 from this exercise, bringing the total gross proceeds from the entire offering to $94,987,500.
• Net proceeds will be utilized to advance exploration, development, and permitting activities at the San Luis gold-silver project in Peru, alongside property acquisition and general corporate working capital.

Key Details

• Over-Allotment Exercise: The underwriters exercised their overallotment option in full, purchasing an additional 2.33 million common shares.
• Price Per Share: The additional shares were purchased at $3.75 per common share.
• Additional Gross Proceeds: The company received $8,737,500 from the exercise of the over-allotment option.
• Total Gross Proceeds: The total gross proceeds from the offering, including the initial tranche and the over-allotment, amount to $94,987,500.
• Underwriting Syndicate: The offering was led by National Bank Financial Inc. as lead underwriter and sole bookrunner. Other participating underwriters included Canaccord Genuity Corp., Velocity Trade Capital Ltd., CIBC World Markets Inc., Ventum Financial Corp., BMO Nesbitt Burns Inc., and Cormark Securities Inc.
• Use of Proceeds: Funds are designated for:
  • Advancement of exploration and development activities at the San Luis project.
  • Project studies and permitting in Peru.
  • Property investigation and acquisition activities.
  • Working capital and general corporate purposes.
• Regulatory Context: The offering was completed in all Canadian provinces and territories except Quebec via a prospectus supplement to the short-form base shelf prospectus dated April 10, 2025. In the United States, it was conducted as a private placement under exemptions from the U.S. Securities Act of 1933.

Notable Quotes

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