Apollo Silver arranges $20.88-million private placement

Executive Summary

• Apollo Silver Corp. announced a non‑brokered private placement of up to 5.8 million units at $3.60 per unit, targeting gross proceeds of up to $20.88 million.
• Each unit includes one common share and one warrant to purchase an additional share at $5.50 for 24 months, with acceleration provisions tied to the TSX‑V price.
• Net proceeds will be used to advance the Calico silver project (CA), support community relations at Cinco de Mayo (Mexico), cover ongoing property maintenance, and fund general corporate purposes.

Key Details

• Offering size: Up to 5.8 million units; price per unit: $3.60; gross proceeds target: $20.88 million.
• Unit composition: 1 common share + 1 common share purchase warrant.
• Warrant terms: Exercise price $5.50, exercisable for 24 months from closing; acceleration clause if TSX‑V price ≥ $7.50 for 10 consecutive trading days after four months + one day post‑closing, causing expiry 30 days after notice.
• Hold period: All securities subject to a four‑month hold period from the closing date.
• Use of proceeds:
• Advance exploration and development at the Calico silver project (San Bernardino County, CA).
• Support community relations initiatives at the Cinco de Mayo silver project (Chihuahua, Mexico).
• Cover continuing property maintenance costs for both projects.
• General corporate purposes.
• Regulatory conditions: Closing subject to TSX‑V and other regulatory approvals; finders’ fees may be payable per TSX‑V policies.

Notable Quotes

(No direct quotes were provided in the release.)