The Shelf Prospectus Supplement, the Corresponding Base Shelf Prospectus and Any Amendment to the Documents is Accessible Through SEDAR+ OR Will Be
220 Bay Street, Suite 550, Toronto, ON M5J 2W4
www.abrasilver.com
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
THE SHELF PROSPECTUS SUPPLEMENT, THE CORRESPONDING BASE SHELF PROSPECTUS
AND ANY AMENDMENT TO THE DOCUMENTS IS ACCESSIBLE THROUGH SEDAR+ OR WILL BE
ACCESSIBLE THROUGH SEDAR+ WITHIN 2 BUSINESS DAYS, AS APPLICABLE.
ABRASILVER ANNOUNCES $48.4 MILLION FINANCING, COMPRISED OF $21.8
MILLION “BOUGHT DEAL” PUBLIC OFFERING AND $26.6 MILLION
CONCURRENT PRIVATE PLACEMENT OF COMMON SHARES
Toronto, ON – January 31, 2025 – AbraSilver Resource Corp. (TSXV: ABRA) (“AbraSilver” or
the “Company”) is pleased to announce that it has entered into an agreement with National Bank
Financial Inc. and Beacon Securities Limited, acting as co-bookrunners, and on behalf of a
syndicate of underwriters (collectively, the “ Underwriters”), pursuant to which the Underwriters
have agreed to purchase, on a “bought deal” basis, 8,550,000 common shares of the Company
(the “Common Shares”) at a price of $2.55 per Common Share (the “Issue Price”), for aggregate
gross proceeds of $21,802,500 (the “Offering”). The Underwriters will have an option to purchase
up to an additional 15% of the Common Shares issued under the Offering at the Issue Price to
cover over allotments, exercisable in whole or in part, at any time until 30 days after the closing
of the Offering.
In addition to and concurrent with the Offering, the Company intends to complete a private
placement offering (the “Concurrent Private Placement”) of up to 10,434,062 Common Shares
of the Company at the Issue Price for gross proceeds of up to $26,606,858.10 in connection with
the exercise of a participation right held by an affiliate of Central Puerto SA (“ Central Puerto”)
and Kinross Gold Corporation (“Kinross”). In connection with the Concurrent Private Placement,
the Company has entered into a binding subscription agreement with Central Puerto, pursuant to
which Central Puerto has agreed to purchase 9,701,157 Common Shares, which is expected to
increase Central Puerto’s ownership interest to approximately 9.9% of the issued and outstanding
Common Shares, on a non-diluted basis. Kinross also holds a participation right and is expected
to elect to participate in the Concurrent Private Placement to maintain its current ownership
position. Should the Over-Allotment Option be exercised, Kinross and Central Puerto will have
the option to purchase additional Common Shares under the Concurrent Private Placement in
accordance with the terms of their participation right. The Common Shares sold pursuant to the
Concurrent Private Placement will be subject to a hold period of four months plus one day from
the closing date of the Concurrent Private Placement. The closing of the Concurrent Private
Placement is expected to occur concurrently with or shortly following the closing of the Offering
and is subject to the Company receiving all necessary approvals, including the conditional
approval from the TSX Venture Exchange.
John Miniotis, President and CEO, commented, “We are truly delighted to announce this $48.4
million financing, providing us with immense financial flexibility to accelerate the development of
our Diablillos project and continue unlocking its full potential. The strong support from both
institutional investors and strategic partners reinforces confidence in our vision and the long-term
220 Bay Street, Suite 550, Toronto, ON M5J 2W4
www.abrasilver.com
value of our assets. With this financing, we are extremely well-positioned to achieve all key
development milestones and create significant value for all our shareholders.”
The net proceeds of the Offering will be used to fund the continued advancement of the 100%-
owned Diablillos silver-gold project in the Salta province of Argentina and for general corporate
purposes.
The closing date of the Offering is expected to occur on or about February 7, 2025, and is subject
to certain conditions including, but not limited to, the receipt of all necessary approvals, including
the conditional approval from the TSX Venture Exchange.
The Common Shares will be offered publicly in all provinces and territories of Canada, except
Quebec and Nunavut, by way of a prospectus supplement (the “ Prospectus Supplement”) to
the Company’s short form base shelf prospectus dated April 14, 2023 (the “ Base Shelf
Prospectus”) and may be offered on a private placement basis to “qualified institutional buyers”
in the U.S. using Rule 144A or such other exemption as not to require registration; and, in
accordance with applicable securities laws, any other jurisdictions that would not require the filing
of a prospectus, registration statement, offering memorandum or similar document and would not
result in the Company having any reporting or other obligation in such jurisdiction.
Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendment to such
documents is provided in accordance with securities legislation relating to the procedures for
providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment.
The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days
from the date hereof), accessible on SEDAR+ at www.sedarplus.com. An electronic or paper copy
of the Prospectus Supplement, Base Shelf Prospectus, and any amendment to such documents
may be obtained, without charge, from National Bank Financial Inc., by phone at (416) 869-8414
or by e-mail at [email protected] by providing the contact with an email address or
address, as applicable.
About AbraSilver
AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-
owned Diablillos silver-gold project in the mining-friendly Salta and Catamarca provinces of
Argentina. The current Proven and Probable Mineral Reserve estimate for Diablillos, consists of
42.3 Mt grading 91 g/t Ag and 0.81 g/t Au, containing approximately 124 Moz silver and 1.1 Moz
gold, with significant further exploration upside potential. In addition, the Company has entered
into an earn-in option and joint venture agreement with Teck on the La Coipita project, located in
the San Juan province of Argentina. AbraSilver is listed on the TSX-V under the symbol “ABRA”
and in the U.S. on the OTCQX under the symbol “ABBRF.”
For further information please visit the AbraSilver Resource website at www.abrasilver.com, our
LinkedIn page at AbraSilver Resource Corp., and follow us on Twitter at
www.twitter.com/abrasilver
Alternatively please contact:
220 Bay Street, Suite 550, Toronto, ON M5J 2W4
www.abrasilver.com
John Miniotis, President and CEO
Tel: +1 416-306-8334
Cautionary Note Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian
securities legislation, including in respect of the Offering, the Concurrent Private Placement, the
expected closing date, the use of net proceeds thereof and the expected graduation to the TSX.
Forward-looking statements are necessarily based upon a number of estimates and assumptions
that, while considered reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. All statements that address future
plans, activities, events or developments that the Company believes, expects or anticipates will
or may occur are forward-looking information. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward-
looking statements. When considering this forward-looking information, readers should keep in
mind the risk factors and other cautionary statements in the Company’s disclosure documents
filed with the applicable Canadian securities regulatory authorities on SEDAR+ at
www.sedarplus.ca. The risk factors and other factors noted in the disclosure documents could
cause actual events or results to differ materially from those described in any forward-looking
information. The Company 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
required by law.
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 news release.