Americas Gold closes $132.25-million (U.S.) financing

Executive Summary

• Americas Gold and Silver Corp. has closed a $132.25 million (U.S.) bought deal private placement financing, consisting of 33,062,500 common shares issued at $4.00 (U.S.) per share.
• The net proceeds are designated to fund the cash portion of the acquisition of Crescent Silver LLC (owner of the Crescent mine in Idaho), as well as capital expenditures and working capital for the Crescent mine and general corporate purposes.
• The financing was oversubscribed, attracting significant interest from key institutional investors, including Eric Sprott, who purchased 900,000 shares. The company also announced an accelerated upgrade at its Galena mine, requiring a 21-day production pause in December.

Key Details

• Financing Structure: Closed bought deal private placement led by Canaccord Genuity Corp. and BMO Capital Markets.
• Shares Issued: 33,062,500 common shares.
• Price: $4.00 (U.S.) per offered share.
• Gross Proceeds: $132.25 million (U.S.), including the full exercise of the underwriters' option.
• Use of Proceeds:
  • Cash portion of the purchase price for the acquisition of 100% of Crescent Silver LLC (Crescent mine, Idaho).
  • Capital expenditures and working capital support for the Crescent mine post-acquisition.
  • Working capital and general corporate purposes.
• Key Investor Participation: Eric Sprott (via an entity beneficially owned by him) purchased 900,000 shares. This is classified as a related party transaction under Multilateral Instrument 61-101.
• Regulatory Exemptions: The company relied on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, as the fair market value of the interested party transaction was not more than 25% of the company's market capitalization.
• Hold Period: Statutory hold period of four months and one day from the closing date.
• Operational Update (Galena):
  • New hoist motors for the Coeur shaft were received ahead of the scheduled 2026 delivery.
  • The company will replace and upgrade the existing hoist motor ahead of schedule, similar to the No. 3 shaft upgrade.
  • This allows for testing of new motors and acceleration of planned 2026 work.
  • A 21-day production pause is planned for December to accommodate this upgrade.
• Strategic Context: The financing positions the company to close the Crescent acquisition in the coming days and advance both Galena and Crescent toward production decisions.

Notable Quotes

• Paul Andre Huet, Chairman and CEO: "We are very pleased to have completed the $132.25-million (U.S.) oversubscribed bought deal financing and welcome several new large shareholders to our register. We expect the Crescent acquisition to close in the coming days and with financing now in place, we stand fully funded for the anticipated near-term capital investments that will be required to advance Cresent into a production decision."
• Paul Andre Huet, Chairman and CEO: "To accommodate this early upgrade, we now plan for a 21-day pause of production in December. With this upgrade in place and the strong balance sheet following our financing, 2026 is shaping up to be a very strong year ahead."