Aztec Minerals increases private placement to $8.69M

Executive Summary

• Aztec Minerals Corp. upsized its bought‑deal private placement to $8.7 million, issuing 37.02 million common shares at C$0.235 per share.
• The underwriter received a 7% cash fee and warrants equal to 7% of the sold shares; an overallotment option allows purchase of up to an additional 15% of offered shares for up to ~$1.3 M.
• Net proceeds will fund exploration at the Tombstone (AZ) and Cervantes (MX) projects and general working capital.

Key Details

• Offering Size: Gross proceeds of $8,699,700 from sale of 37.02 million common shares at C$0.235 per share.
• Overallotment Option: Up to 15% additional shares may be purchased up to ~C$1.3 M gross proceeds; exercisable up to 48 hours before closing.
• Underwriter: Stifel Canada (sole underwriter and bookrunner).
• Fees & Warrants: Cash fee of 7% of gross proceeds; issuance of warrants equal to 7% of offered shares, each warrant for one common share at the issue price, exercisable for 36 months post‑closing.
• Use of Proceeds: Exploration work on Tombstone gold‑silver and silver‑lead‑zinc‑copper‑gold carbonate replacement deposit (Arizona, USA) and Cervantes gold‑copper project (Sonora, Mexico); plus general working capital.
• Closing Date: Expected on or about October 16, 2025, subject to regulatory approvals including conditional TSX Venture Exchange approval.
• Regulatory/Offering Terms: Shares offered to Canadian residents under NI 45‑106 exemptions; may be offered outside Canada if no prospectus required. Hold period of four months and one day applies.

Notable Quotes

(No CEO or executive quotes were included in the release.)