VANCOUVER, British Columbia, October 22, 2025 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo Silver” or “Company” (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that the Company has closed the first tranche representing the majority of its previously announced enlarged non-brokered private placement (the “Enlarged Offering”), raising gross proceeds of $25,134,145 through the issuance of 6,981,707 shares ( “Units”) of the Company at a price of US$3.60 per Unit. The total amount of the increased offering is US$26,775,648, with the final tranche of 455,973 units for gross proceeds of US$1,641,503 expected to close in the coming days.
Each Unit issued pursuant to the Enlarged Offering consists of one common share (a “Share”) in the capital of the Company and one common share purchase warrant (a “warrant”). Each warrant entitles the holder thereof to purchase one Share at an exercise price of US$5.50 for a period of 24 months from the closing date of the Offering. The warrants are subject to an acceleration provision which provides that if, at any time after the date that is four months and one day after closing, the Company's Shares are trading on the TSX Venture Exchange (“TSXV”) at a closing price of $7.50 or more per share for a period of ten (10) consecutive trading days, the Company may accelerate the expiration of the warrants by notice thereof to the holders thereof and, in such case, the Warranty Period will expire on the thirtieth (30th) day after the date of such notice (“Acceleration Provision”)
In connection with subscriptions received under the first tranche of the enlarged offering, the Company will pay aggregate search fees totaling $826,549, payable in cash and/or units to BMO Capital Markets, Canaccord Genuity, Red Cloud Securities Inc., Research Capital Corporation and SCP Resource Finance.
Securities issued under the Upsized Offering are subject to a four-month hold period from the closing date. The Company intends to use the net proceeds from the increased offering to continue development of the Calico Silver Project in San Bernardino, California; support public relations initiatives for the Cinco de Mayo Silver Project in Chihuahua, Mexico; cover the ongoing costs of maintaining property in both projects; and for general corporate purposes. The increased offering remains subject to final approval by the TSXV.
The offering included participation by certain Company insiders for a total of 405,557 units for a total consideration of $1,460,005.20. Such participation constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Issues of securities to insiders are exempt from the valuation requirement under MI 61-101 Section 5.5(b) because the Company's shares are not quoted on a designated market, and from the minority shareholder approval requirement under MI 61-101 Section 5.7(a) because the fair market value of the securities issued to related parties does not exceed twenty-five percent. the Company's market. capitalization.
The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States absent registration under the U.S. Securities Act and all applicable state securities laws, or compliance with the requirements of an applicable exemption therefrom. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States, nor is there any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Apollo Silver Corp.
Apollo is advancing one of the largest undeveloped primary silver mining projects in the United States. The Calico Project hosts a large, large-scale silver deposit with significant reserves of barite and zinc, recognized as critical minerals needed by the U.S. energy and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which hosts a large high-grade, high-tonnage carbonate replacement deposit (CRD). Led by an experienced and award-winning management team, Apollo is well positioned to advance assets and generate revenue through exploration and development.
Please visit www.apollosilver.com for more information.
ON BEHALF OF THE BOARD OF DIRECTORS
Ross McElroy
President and CEO
For more information contact:
E-mail: [email protected]
Phone: +1 (604) 428-6128
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws. All statements included in this press release, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding the expected timing of completion of the remainder of the Enlarged Offering; and the intended use of proceeds from the Enlarged Offering. Forward-looking statements include predictions, forecasts and forecasts and often, but not Always, identified To That use from words such How “to foresee” “believe”, “plan”, “evaluate”, “expect”, “potential”, “goal”, “budget” and “intent”, and statements that an event or result “may”, “will”, “should”, “could” or “could” occur or be achieved, and other similar expressions, including their negatives.
Forward-looking statements are based on reasonable assumptions The estimates, analyzes and opinions of the Company's management, made in light of its experience and perception of trends, current conditions and expected events, and other factors that the Company's management believes are appropriate and reasonable in the circumstances at the date of such statements. Forward-looking information is based on reasonable assumptions made by the Company as of the date such information is provided and is subject to known and unknown risks, uncertainties and other factors that could cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including But without limitation: risks associated with mineral exploration and development; prices of metals and minerals; availability of capital; accuracy of the Company's forecasts and estimates; implementation of mineral resource estimates, interest rates and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic events; environmental risks; insurance risks; capital costs; operational or technical difficulties associated with development; personnel relations; and changes to project parameters How plans continue To be exquisite. Forward-looking statements are based on assumptions that management believes to be reasonable, including But No limited To That price from silver, gold And barite; That demand For silver, gold And barite; That ability carry out exploration and development activities; timely receipt of all necessary permits; the ability to obtain qualified personnel, equipment and services in a timely and cost-effective manner; ability to operate safely, effectively and efficiently; and environmental regulatory frameworks and other assumptions and factors set forth herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that could cause results to differ materially from those contained in forward-looking information. No To be How expected, rated or intended. There Maybe be No guarantee What visionary statements results will prove to be accurate and factual, and future events may differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information contained herein unless V correspondence With applicable securities laws. visionary information contained Here is presented For target from help investors V understanding That companies expected financial And operational performance And companies plans And goals And Maybe No be corresponding For another goals. Company does No We undertake to update any forward-looking information except as required by applicable securities laws..
