Americas Gold and Silver Closes US$132.25 Million Bought Deal Financing

Core Points - Americas Gold and Silver Corporation has successfully closed a bought deal private placement financing, raising US$132.25 million through the issuance of 33,062,500 common shares at US$4.00 per share [1][2][3] - The net proceeds from this financing will be utilized for the acquisition of Crescent Silver, LLC, which owns the Crescent Mine in Idaho, as well as for capital expenditures and working capital at the mine [2][3] - The company anticipates closing the acquisition soon and is fully funded for upcoming capital investments to advance Crescent towards production [3][4] Financing Details - The offering was led by Canaccord Genuity Corp. and BMO Capital Markets, and included the full exercise of the underwriters' option [1] - Eric Sprott, the largest shareholder of the company, purchased 900,000 shares as part of the offering, which is classified as a related party transaction [4] - The shares are subject to a statutory hold period of four months and one day from the closing date [5] Operational Updates - The company plans to pause production for 21 days in December to facilitate a major upgrade at the Galena mine, which is ahead of schedule [3] - A new non-restrictive 5-year multi-metal offtake agreement has been established with Ocean Partners for the treatment of Galena's concentrates [7] - The company aims to enhance production capabilities at both Galena and Crescent, with aggressive exploration drilling planned [3][7]