First Andes Silver Closes Oversubscribed Private Placement Financing
Summary
The Company paid finders a cash fee of $38,500 and issued 770,000 non-transferable warrants exercisable at $0.05 per share for a period of two years from the date of issue.The proceeds of the Offering will be used for a follow-up drill program at the high-grade Santas Gloria silver property and general working capital purposes.Ian Stalker, the Companys Executive Chairman and a director, subscribed for 2,000,000 Shares, contributing $100,000 to the Offering. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. Such factors include, among other things: risks and uncertainties relating to Companys limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243158