Argenta Silver Announces Closing of Bought Deal Private Placement for Gross Proceeds of C$15 Million
Argenta Silver Announces Closing of Bought
Deal Private Placement for Gross Proceeds of
C$15 Million
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
TSX-V:AGAG
VANCOUVER, BC
,
Aug. 12, 2025
/CNW/ - Argenta Silver Corp. (TSXV: AGAG) (FSE: T1K)
("
Argenta
" or the "
Company
") is pleased to announce the closing of its previously announced
"bought deal" private placement (the "
Offering
") for gross proceeds of
C$15,000,000
, which
includes the exercise in full of the over-allotment option. Pursuant to the Offering, the Company sold
37,500,000 units of the Company (each, a "
Unit
") at a price of
C$0.40
per Unit (the "
Offering
Price
"). Red Cloud Securities Inc. ("
Red Cloud
") acted as sole underwriter and bookrunner under
the Offering.
Each Unit consists of one common share of the Company (each, a "
Common Share
") and one-half
of one transferable common share purchase warrant (each whole warrant, a "
Warrant
"). Each
whole Warrant entitles the holder to purchase one Common Share (each, a "
Warrant Share
") at a
price of
C$0.60
at any time on or before
August 12, 2028
.
The Company intends to use the net proceeds from the Offering for the exploration and
advancement of the Company's 100% owned El Quevar Project in
Salta Province
,
Argentina
as well
as for working capital and general corporate purposes.
As consideration for their services under the Offering,
Red Cloud
received aggregate cash fees of
C$801,180
and 2,002,950 non-transferable common share purchase warrants (the "
Broker
Warrants
"). Each Broker Warrant is exercisable into one Common Share at the Offering Price at
any time on or before
August 12, 2028
.
The closing of the Offering remains subject to the final approval of the TSX Venture Exchange (the
"
TSX-V
"). The securities issued pursuant to the Offering are subject to a hold period in accordance
with applicable Canadian securities law, expiring four months and one day following the issue date,
being
December 13, 2025
.
Early Warning
The Company further announces that Mr.
Frank Giustra
acquired ownership of 450,000 Units of the
Company pursuant to the Offering, representing 450,000 Common Shares and 225,000 Warrants.
As reported in the last early warning report filed on
January 29, 2025
, Mr. Giustra had indirect
ownership and/or control over an aggregate of 25,540,000 Common Shares and 3,425,000 common
share purchase warrants of the Company, representing 15.09% of the outstanding Common Shares
and 16.78% on a partially diluted basis, assuming the exercise of 3,425,000 warrants.
Mr. Giustra now has indirect ownership and/or control over an aggregate of 27,490,000 Common
Shares and 3,650,000 common share purchase warrants of the Company, representing, as a result
of the dilution from the Offering and various exercises of convertible securities, a decrease to
11.34% of the outstanding Common Shares and 12.66% on a partially diluted basis, assuming the
exercise of 3,650,000 warrants.
Mr. Giustra acquired the above-mentioned securities for investment purposes, and may in the future
acquire or dispose of securities of the Company, through the market, privately or otherwise, as
circumstances or market conditions warrant.
A copy of the Early Warning Report filed by Mr. Giustra may be obtained from the Company's
SEDAR profile.
Certain insiders of the Company subscribed for a total of 666,000 Units which constitutes a "related
party transaction" for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("
MI 61-101
"). The Company is exempt from the requirements to
obtain a formal valuation or minority shareholder approval in reliance on sections 5.5(a) and 5.7(1)
(a) of MI 61-101, as neither the fair market value of the securities issued to the Insiders nor the fair
market value of the consideration for the securities issued to the Insiders exceeds 25% of the
Company's market capitalization as calculated in accordance with MI 61-101. The Company did not
file a material change report containing all of the disclosure required by MI 61-101 more than 21
days before the expected closing date of the offerings as the aforementioned insider participation
had not been confirmed at that time and the Company wished to close the offerings as expeditiously
as possible.
About the El Quevar Project
The El Quevar Project is located in Salta,
Argentina
and spans an area of 57,000 hectares. The
property remains underexplored with less than 3% of the area covered with comprehensive
exploration work. The property boasts exceptional infrastructure with over 60 km of internal roads, a
fully owned, fully operational camp for 100 workers with multiple support buildings, and a railroad,
gas pipeline and service road just 3 km from camp, while a high–voltage transmission line lies
approximately 20 km from the exploration area. The robust infrastructure associated with the project
provides a cost-effective platform to de–risk and accelerate future drilling and development.
The foundational Mineral Resource Estimate of the Yaxtché deposit boasts an indicated mineral
resource of
45.3 million ounces of silver from 2.93 million tonnes grading 482 g/t Ag, and an
inferred resource of 4.1 million ounces from 0.31 million tonnes grading 417 g/t Ag
(1). The
mineral resource area remains open at depth and in multiple directions, particularly to the southeast
and northwest. One of the objectives of the ongoing 2025 Winter Drilling Program is to specifically
target and expand these high-grade Yaxtché zones.
The mineralization at the Yaxtché deposit is defined as a silver rich, high to intermediate-sulphidation
epithermal system with associated gold. Mineralization is controlled by NW-SE and NE-SW fault
structures and is mainly hosted in brecciated zones and dacite domes. Silver minerals at Yaxtché
consist of complex silver sulphides, sulphosalts and native silver. These minerals are found within
silicified breccias, commonly appearing as veinlets, stockworks, disseminations, and breccia fillings.
Qualified Person
Rob van Egmond
, P.Geo., a "qualified person" as defined by National Instrument 43-101 Standards
of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical
information contained in this news release.
Rob van Egmond
, P.Geo. has visited the El Quevar
Project and is not independent of the Company.
(1) Refer to NI43-101 technical report with effective date of
September 30, 2024
, titled "NI 43-101
Technical Report on the Mineral Resource Estimate of the El Quevar Project Salta Province,
Argentina
", posted on
www.SEDAR.com
under Argenta Silver Corp.
About Argenta Silver Corp.
Argenta Silver Corp. is a silver exploration company committed to (or- "focused on") advancing
projects that support the global energy transition. Our mission is to create sustainable, long-term
value for shareholders by acquiring and developing high-potential silver assets in mining-friendly
jurisdictions across
Latin America
. Led by an experienced management team with deep expertise in
exploration, finance, and project development,
Argenta
emphasizes responsible mining practices and
is well-positioned to meet the rising demand for silver — a critical metal in renewable energy and
emerging technologies.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful, including any of the securities in
the United States of America
. The securities
referred to in this news release 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
or to, or for the account or benefit of, U.S.
persons, absent registration or any applicable exemption from the registration requirements of the
U.S. Securities Act and applicable U.S. state securities laws.
On behalf of Argenta Silver Corp.
"Joaquín Marias"
President and Chief Executive Officer
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.
Forward Looking Information
Certain statements and information herein contain forward-looking statements and forward-looking
information within the meaning of applicable securities laws. Forward looking information in this
news release includes, but is not limited to, the intended use of proceeds of the Offering and the
final approval of the Offering and Pro Rata Investment by the TSX-V.
Although management of the Company believe that the assumptions made and the expectations
represented by such statements or information are reasonable, there can be no assurance that
forward-looking statements or information herein will prove to be accurate. Forward-looking
statements and information by their nature are based on assumptions and involve known and
unknown risks, uncertainties and other factors which may cause actual results, performance or
achievements, or industry results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements or information. These risk
factors include, but are not limited to: exploration and development of the El Quevar project may
not result in any commercially successful outcome for the Company; risks associated with the
business of the Company; business and economic conditions in the mining industry generally;
changes in general economic conditions or conditions in the financial markets; changes in laws
(including regulations respecting mining concessions); and other risk factors as detailed from time
to time. The Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE
Argenta Silver Corp.
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%SEDAR: 00009657E
For further information:
For further information, please contact: Vanessa Bogaert, Vice President
Investor Relations & Communications, Tel: +1 604 721 7773
CO: Argenta Silver Corp.
CNW 11:44e 12-AUG-25