Aztec Minerals Announces Closing of Upsized C$10 Million Bought Deal Private Placement Including Concurrent Exercise of Over-Allotment Option

Executive Summary

• Aztec Minerals closed an upsized bought‑deal private placement, raising C$10,004,655 in gross proceeds.
• The offering consisted of 42,573,000 common shares at C$0.235 per share plus a fully exercised over‑allotment option for an additional 5,553,000 shares.
• Net proceeds will fund exploration on the Tombstone (AZ, USA) and Cervantes (Sonora, Mexico) projects and provide general working capital.

Key Details

• Offering Size: C$10,004,655 gross proceeds.
• Shares Sold: 42,573,000 common shares at C$0.235 per share.
• Over‑Allotment Option: Fully exercised; additional 5,553,000 shares purchased at the same issue price.
• Underwriter: Stifel Canada (sole underwriter and bookrunner).
• Commission Paid: C$700,326 cash commission to Underwriter (7% of gross proceeds).
• Broker Warrants Issued: 2,980,110 non‑transferable common share purchase warrants (7% of shares sold).
• Warrant Terms: Each warrant allows purchase of one common share at an exercise price equal to the issue price (C$0.235) any time on or before October 16 2028.
• Hold Period: Offered Shares, Broker Warrants and resulting Warrant Shares subject to a four‑month‑plus‑one‑day hold period from closing date per Canadian securities law.
• Use of Proceeds:
• Exploration work on Tombstone gold‑silver & CRD silver‑lead‑zinc‑copper‑gold project (Arizona, USA).
• Exploration work on Cervantes gold‑copper project (Sonora, Mexico).
• General working capital.
• CEO Quote: “The closing of this upsized and over‑allotted $10 million bought‑deal financing represents a significant milestone… the Company is now well funded to advance our precious‑metals focused projects through accelerated exploration.” – Simon Dyakowski, President & CEO.

Notable Quotes

• “The financing was subscribed to by institutional investors and provides for the necessary capital to further de‑risk our projects.” – Simon Dykowski, President & CEO.