Argenta Silver closes $15-million bought deal

Executive Summary

• Argenta Silver Corp. closed a bought‑deal private placement raising gross proceeds of C$15 million (US$≈$15 M) from the sale of 37.5 million units at $0.40 per unit, including full exercise of the overallotment option.
• Net proceeds will be used to fund exploration and advancement of the 100‑percent owned El Quevar project in Salta Province, Argentina, as well as for working capital and general corporate purposes.
• Insider participation disclosed: Frank Giustra purchased 450,000 units; insiders subscribed to a total of 666,000 units, constituting a related‑party transaction exempt from formal valuation under MI 61‑101.

Key Details

• Units sold: 37.5 million units (each unit = 1 common share + ½ transferable common share purchase warrant).
• Price per unit: $0.40 CAD.
• Gross proceeds: C$15 million.
• Underwriter/Bookrunner: Red Cloud Securities Inc. (sole underwriter).
• Warrant terms: Each whole warrant allows purchase of one common share at $0.60 CAD, exercisable any time on or before 12 Aug 2028.
• Underwriter compensation: Cash fees of $801,180 and issuance of 2,002,950 non‑transferable broker warrants (exercisable into common shares at the offering price, same expiry).
• Use of proceeds: Primarily for exploration and development of the El Quevar project; remainder for working capital and general corporate purposes.
• Closing conditions: Subject to final approval by the TSX Venture Exchange; securities subject to a hold period expiring 13 Dec 2025.
• Insider ownership updates (Early Warning):
• Frank Giustra now holds 450,000 units (450,000 common shares + 225,000 warrants).
• Giustra’s total indirect holdings increased to 27.49 million common shares and 3.65 million warrants (~11.34% of outstanding common shares; 12.66% on a partially diluted basis).
• Related‑party transaction: Insiders subscribed for 666,000 units; exempt from formal valuation/minority shareholder approval under MI 61‑101 because the fair market value does not exceed 25% of market capitalization.

Notable Quotes

(No direct CEO/President quotes were provided in the release.)