Aftermath Closes $20 Million Financing, with Participation by Eric Sprott
Aftermath Closes $20 Million Financing, with Participation by Eric Sprott
VANCOUVER, BC, December 23, 2025 - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF)
(FSE: FLM1) (the " Company" or " Aftermath Silver") is pleased to announce it has closed its
previously announced brokered , “best -efforts” private placement (the “ Offering”) of 22,222,250
common shares (the “ Shares”) for gross proceeds of $ 20,000,025. The Offering was led by
Research Capital Corporation, as co -lead agent and sole bookrunner, and Red Cloud Securities
Inc. as co-lead agent (collectively, the “Agents”).
The Offering was completed by way of the listed issuer financing exemption under Part 5A of
National Instrument 45-106 – Prospectus Exemptions and in reliance on the amendments to Part
5A of NI 45 -106 set forth in Coordinated Blanket Order 45 -935 – Exemptions from Certain
Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”).
The Shares offered under the Listed Issuer Financing Exemption will not be subject to resale
restrictions pursuant to applicable Canadian securities laws.
The net proceeds from the Offering will be used to fund further exploration and development at the
Company’s Berenguela Silver -Copper-Manganese project in southern Peru (the “ Berenguela
Project”), completion of a pre-feasibility study for the Berenguela Project, further exploration at the
Company’s other mineral projects and for working capital and general corporate purposes.
A related party of the Company acquired 9,900,000 Shares pursuant to the Offering. The issuance
of such securities to this related party is considered to be a related party transaction within the
meaning of TSXV Policy 5.9 and Multilateral Instrument 61 -101 (“MI 61-101”). The Company has
relied on the exemptions from the valuation and minority shareholder approval requirements of MI
61-101 (and Policy 5.9) as the fair market value of the securities issued to such party does not
exceed 25% of the Company's market capitalization. The Company did not file a material change
report in respect of the related party transaction at least 21 days prior to the closing of the Offering,
which the Company deems reasonable in the circumstances so as to be able to avail itself of the
proceeds of the Offering in an expeditious manner.
In connection with the Offering, the Company paid the Agents a cash commission of approximately
$1,200,000. The Offering is subject to the final approval of the TSX Venture Exchange.
The securities offered pursuant to the Offering have not been, and will not be, registered under the
United States Securities Act of 1933 (the “U.S. Securities Act”) or any U.S. state securities laws,
and may not be offered or sold in the United States or to, or for the account or benefit of, United
States persons absent registration or any applicable exemption from the registration requirements
of the U.S. Securities Act and applicable U.S. state securities laws.
About Aftermath Silver Ltd.
Aftermath Silver Ltd. is a leading Canadian junior exploration company focused on silver and critical
metals which aims to deliver shareholder value through the discovery, acquisition and development
of quality silver and critical metal projects in stable jurisdictions. Aftermath has developed a pipeline
of projects at various stages of advancement. The Company's projects have been selected based
on growth and development potential.
• Berenguela Silver-Copper-Manganese project. The Company has acquired the rights to
a 100% interest in Berenguela through a binding agreement with SSR Mining and EMX
Royalties. The project is located in the Department of Puno, in southern central Peru. A
current NI 43-101 mineral resource estimate was published on December 4, 2025. A NI43-
101Technical Report on the property will be filed shortly.
• Challacollo Silver -Gold project. The Company completed the acquisition of a 100%
interest in the Challacollo silver-gold project from Mandalay Resources; see Company news
release dated August 11, 2022. A NI 43-101 mineral resource was released on December
15, 2020 (available on SEDAR+ and the Company's web page).
• Cachinal Silver-Gold project. The Company owns a 100% interest in the Cachinal Ag-Au
project, located 2.5 hours south of Antofagasta.
ON BEHALF OF THE BOARD OF DIRECTORS,
"Ralph Rushton"
Ralph Rushton
CEO and Director
604-484-7855
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 news release contains “forward -looking information” within the meaning of applicable Canadian
securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to
the activities, events or developments that the Company expects or anticipates will or may occur in the future,
including statements regarding the anticipated use of proceeds from the Offering and receipt of regulatory
approvals with respect to the Offering. Generally, but not always, forward-looking information and statements
can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations
of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among
others, that the Company’s planned exploration activities will be completed in a timely manner, that the
Company will use the proceeds of the Offering as anticipated and that the Company will receive regulatory
approval with respect to the Offering. Although the assumptions made by the Company in providing forward-
looking information or making forward-looking statements are considered reasonable by management at the
time, there can be no
assurance that such assumptions will prove to be accurate and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual results to differ materially
from the Company’s plans or expectations include the risk that the Company will not use the proceeds of the
Offering as anticipated and that the Company will not receive regulatory approval with respect to the Offering,
risks relating to the actual results of current exploration activities, fluctu ating silver prices, possibility of
equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general
economic, market or business conditions, regulatory changes, timeliness of government or regulatory
approvals and other risks detailed herein and from time to time in the filings made by the Company with
securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in the forward-looking information or implied by forward-looking information,
there may be other factors that cause r esults not to be as anticipated, estimated or intended. There can be
no assurance that forward-looking information and statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated, estimated or in tended. Accordingly, readers
should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward -looking
statements whether as a result of new information, future events or otherwise except as otherwise required
by applicable securities legislation.