Apollo Silver Announces $20.88 Million Private Placement Offering

Core Points - Apollo Silver Corp. announced a non-brokered private placement offering of up to 5,800,000 units at a price of $3.60 per unit, aiming for aggregate gross proceeds of up to $20,880,000 [1][2] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one share at an exercise price of $5.50 for 24 months [2] - The offering is subject to regulatory approval from the TSX Venture Exchange [3] Financial Details - The total gross proceeds from the offering could reach $20,880,000 [1] - The exercise price for the warrants is set at $5.50, with an acceleration provision if the shares trade at $7.50 or greater for ten consecutive trading days [2] Use of Proceeds - The net proceeds from the offering will be used to advance the Calico Silver Project in California, support community relations initiatives at the Cinco de Mayo Silver Project in Mexico, cover ongoing property maintenance costs, and for general corporate purposes [2] Company Overview - Apollo Silver is advancing one of the largest undeveloped primary silver projects in the US, the Calico project, which has a significant silver deposit and barite credits [5] - The company also holds an option on the Cinco de Mayo Project in Mexico, known for its high-grade carbonate replacement deposit [5] - Apollo Silver is led by an experienced management team, positioning the company to deliver value through exploration and development [5]