Apollo Silver Secures $10 Million to Boost Silver Exploration
Apollo Silver Corp. Announces Significant Private Placement
Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) has made an exciting move by announcing a non-brokered private placement offering of up to 50,000,000 shares at a price of $0.20 each, aiming to raise total gross proceeds of up to $10,000,000. This strategic move is designed to fuel the Company's growth and support its ongoing mining projects.
Utilization of Funds from the Offering
The funds raised through this offering will be pivotal for advancing the Calico Silver Project, enhancing community relations initiatives at the newly optioned Cinco de Mayo Silver Project, and managing property maintenance costs for both ventures. This funding is also slated for general corporate purposes, reflecting Apollo Silver's commitment to strong operational foundations.
Regulatory Approval and Terms of the Offering
Completion of the offering is contingent upon the necessary regulatory approvals, including those from the TSX Venture Exchange (TSX-V). Notably, all issued securities will be under a hold period of four months. The Company is also preparing for the potential payment of finder’s fees in accordance with TSX-V policies.
Consolidation of Shares
Alongside the private placement, Apollo Silver has plans for a share consolidation, which would see a ratio of five pre-Consolidation Shares to one post-Consolidation Share. This measure aims to enhance the Company's capital structure, and assuming the current offering is completed, the company is expected to have approximately 44,938,746 Shares outstanding post-Consolidation. This approach is intended to streamline shareholder ownership percentages, potentially leading to enhanced investor interest.
Leadership Enhancements and Board Changes
Apollo Silver is also pleased to share significant updates regarding its management team. Alex Tsakumis has been appointed to the Board of Directors. Tsakumis brings a wealth of experience spanning over 30 years in various facets of mining, from exploration to production, enhancing the Company's leadership depth.
In addition, Amandip Singh has been appointed Vice President of Corporate Development. Singh’s prior experiences with prominent mining companies have honed his expertise in executing corporate strategies, making him a valuable asset to the team.
A Bright Future for Apollo Silver Corp.
Apollo Silver Corp. is dedicated to advancing its precious metals projects in prime locations. With a solid leadership structure and strategic funding in place, the Company is well-positioned to capitalize on growth opportunities in the silver market. Its ongoing projects, particularly the Calico and Cinco de Mayo projects, represent significant potential for resource development and community engagement.
For further insights into Apollo Silver and its strategic initiatives, refer to the Company’s detailed communications.
Frequently Asked Questions
What is the purpose of the $10 million private placement?
The funds will support the advancement of the Calico Silver Project and community relations initiatives at the Cinco de Mayo Silver Project, as well as cover maintenance costs and corporate purposes.
What does the share consolidation entail?
The consolidation will adjust the ratio of shares held by investors to reduce the total number of shares while maintaining their percentage ownership in the Company.
Who has been appointed to the Board of Directors?
Alex Tsakumis has been appointed, bringing decades of mining expertise to Apollo Silver’s leadership.
What recent management changes have taken place?
Amandip Singh has been appointed as Vice President of Corporate Development, citing his extensive industry experience.
How can investors keep informed about Apollo Silver's developments?
Investors can follow updates through the Company's official communications and news releases regarding its projects and management decisions.
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