Apollo Silver Announces $20.88 Million Private Placement Offering

Executive Summary

• Apollo Silver Corp. announced a non‑brokered private placement of up to 5,800,000 units at $3.60 per unit, targeting gross proceeds of up to $20.88 million.
• Each unit consists of one common share and one warrant exercisable at $5.50 per share for 24 months, with an acceleration clause tied to the TSX‑V price reaching $7.50 for ten consecutive trading days.
• Net proceeds are earmarked to advance the Calico Silver Project (CA, USA), support community relations at Cinco de Mayo Silver Project (CH, Mexico), cover ongoing property maintenance, and general corporate purposes.

Key Details

• Units Offered: Up to 5,800,000 units @ $3.60 per unit → $20,880,000 gross proceeds.
• Unit Composition:
• 1 common share of Apollo Silver Corp.
• 1 common‑share purchase warrant (exercise price $5.50).
• Warrant Terms:
• Exercise period: 24 months from closing date.
• Acceleration provision: If, after the fourth month + one day post‑closing, the TSX‑V share price ≥ $7.50 for ten consecutive trading days, Apollo may accelerate expiry; warrants then expire 30 days after notice.
• Hold Period: All securities subject to a four‑month hold period from closing.
• Use of Proceeds:
• Continue advancing the Calico Silver Project in San Bernardino County, CA.
• Support community‑relations initiatives at the Cinco de Mayo Silver Project in Chihuahua, Mexico.
• Cover ongoing property maintenance costs for both projects.
• General corporate purposes.
• Regulatory Conditions: Closing subject to TSX Venture Exchange approval and other applicable regulatory approvals.
• Legal Disclaimer: Units are not registered under the U.S. Securities Act; cannot be offered or sold in the United States absent registration or an exemption.

Notable Quotes

• “We are pleased to provide additional capital to accelerate development at Calico and strengthen our community engagement at Cinco de Mayo, positioning Apollo Silver for continued growth.” – Ross McElroy, President & CEO

Materiality Assessment: Material – Positive (significant financing that directly funds key project advancement).