VANCOUVER, British Columbia, October 28, 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 final tranche of its previously announced enlarged non-brokered private placement (the “Enlarged Offering”), raising gross proceeds of $1,641,503 through the issuance of 455,973 shares (“Units”) of the Company at a price of $3.60 per unit. the first tranche of the enlarged offering, as announced in a press release dated October 22, 2025, for gross proceeds of $25,134,145. In total, the increased offering raised total proceeds of US$26,775,648 through the production of 7,437,680 units.
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 to the holders thereof, in which case the warrant will expire on the thirtieth (30th) day after the date of such notice (the “Acceleration Provision”).
The Company would like to thank existing and new shareholders, including Eric Sprott, Primevest Capital, Sprott Asset Management, Commodity Capital, Jupiter Asset Management and others, for their continued support through their participation in this financing.
“We are very pleased with the strong interest in our private placement and deeply appreciate the confidence shown by institutional, retail and strategic investors who have supported management’s vision to advance our Tier 1 assets.” said Ross McElroy, President and CEO of Apollo Silver. “Funds generated from this financing position will enable the Company to advance our Calico Silver project in San Bernardino County, California, as well as support ongoing efforts to secure surface access and advance the Cinco de Mayo project in Chihuahua, Mexico.”
In connection with subscriptions received under the Upsized Offering, the Company will pay aggregate search fees totaling $901,395.18, 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 specified 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 of 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 Silver Project contains a large mineable 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 carbonate replacement resource (CRD) deposit that is both high grade and large tonnage. 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 anticipated use of proceeds from the increased offering; receipt of final approval from the TSXV; development and potential of the company’s projects “Calico” and “Pinco de Mayo”; the Company's plans and expectations regarding exploration, permitting and future development activities for Calico and Cinco de Mayo; efforts to gain and maintain surface access and community support during Cinco de Mayo; and expected benefits to the Company and its shareholders. 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..
