Apollo Silver Corp. Secures Significant Private Placement
Apollo Silver Corp. (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF0) is excited to announce that it has initiated a non-brokered private placement aimed at raising up to $10 million through the issuance of 50 million shares at a price of $0.20 per share. This funding will be essential for the company to further develop its key silver projects.
Use of Proceeds for Project Advancement
The proceeds from this private placement will be primarily allocated to continuous development efforts at the Calico Silver Project. This project holds great promise and is located in a region known for significant silver mining history. Additionally, Apollo Silver intends to invest in community relations for the Cinco de Mayo Silver Project, which is a newly optioned site in Chihuahua, Mexico, while also supporting ongoing maintenance and general corporate purposes.
Share Consolidation Plans
In conjunction with the successful completion of the offering, Apollo Silver plans to implement a share consolidation. This consolidation will be executed at a ratio of five pre-consolidation shares for every one post-consolidation share. This strategic move is designed to streamline the company’s share structure and enhance its appeal to investors.
Changes in Leadership
Apollo Silver is also welcoming new talent to its Board of Directors. The recent appointment of Alex Tsakumis, a seasoned expert with over 30 years in the mining sector, is a testament to the company’s commitment to strong leadership. Mr. Tsakumis brings a wealth of experience in various domains, including corporate governance and finance, which is expected to significantly benefit Apollo Silver's strategic direction.
Appointment of Corporate Development Vice President
In addition to new board leadership, Amandip Singh has been appointed as the Vice President of Corporate Development. With over 15 years of experience in the mining industry, Mr. Singh has a proven track record in corporate development and mining project management. His recent role at West Red Lake Gold Mines involved pivotal acquisition strategies, demonstrating his capability to drive corporate growth.
Company Outlook
Apollo Silver Corp. boasts a skilled team dedicated to advancing its precious metal projects in top-tier mining regions. The company's strategic focus remains on the development of its significant silver projects, including the promising Calico and Cinco de Mayo projects. Both sites are expected to yield substantial value as development continues, potentially enhancing the company’s position within the silver market.
Contact Information
For those looking for more information about Apollo Silver Corp. and its initiatives, contact Andrew Bowering, Chairman and Interim Chief Executive Officer, at +1 (604) 428-6128.
Frequently Asked Questions
What is the purpose of the private placement by Apollo Silver?
The private placement aims to raise $10 million to advance the Calico Silver Project and other operational needs.
Who has been appointed to Apollo Silver's Board of Directors?
Alex Tsakumis has been appointed to the Board, bringing over 30 years of experience in the mining industry.
What is the planned share consolidation ratio?
Apollo Silver plans a share consolidation at a ratio of 5:1, reducing the number of shares in circulation.
What other roles have management changes involved?
The company has also appointed Amandip Singh as Vice President of Corporate Development to enhance its strategic growth efforts.
How will the funds from the offering be utilized?
Funds from the offering will be used for project development, community relations, property maintenance, and general corporate purposes.
