BP Silver Closes Final Tranche of Non-Brokered Private Placement, Raising Total Gross Proceeds of C$10.02 Million
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BP Silver Closes Final Tranche of Non-Brokered Private Placement, Raising Total
Gross Proceeds of C$10.02 Million
Vancouver, British Columbia – (April 15, 2026) – BP Silver Corp. (TSXV: BPAG) (OTCQB: BPSCF)
(“BP Silver” or the “Company”) is pleased to announce the successful closing of the final tranche
(the “ Final Tranche ”) of its previously announced non -brokered private placement (the
“Offering”), for gross proceeds of C$ 635,000 Including the first and second tranches, the
Company has raised aggregate gross proceeds of C$10,018,067 under the Offering.
Tim Shearcroft, Founder and CEO, stated: “This Final Tranche completes a successful $10 .02
million raise, delivered despite challenging market conditions. I would like to personally welcome
our new shareholders and extend my sincere thanks to our existing shareholders for their
continued support and confidence. I would also want to recognize those who have supported the
company in the marketplace. With this funding in place, BP Silver is no w well positioned to
advance our Cosuño Silver Project in Bolivia, while also evaluating new opportunities through our
strong network.”
Pursuant to the Final Tranche, the Company issued 635, 000 units (the “ Units”) at a price of
C$1.00 per unit for gross proceeds of C$635,000. Each Unit consists of one common share of the
Company (a "Common Share") and one-half of one common share purchase warrant (each whole
warrant, a "Warrant"). Each Warrant entitle s the holder thereof to acquire one common share
(a “Warrant Share”) at a price of C $1.30 per Warrant Share for a period of two years from the
date of issuance.
BP Silver intends to use the net proceeds of the Offering for exploration activities at the
Company’s Cosuño Silver Project (“Cosuño”) in Bolivia, including geophysical surveys and a Phase
II drill program, as well as potential exploration at its Titiri project. The proceeds will also support
the evaluation of other high- potential opportunities and be used for general working capital
purposes.
All securities issued pursuant to the Offering will be subject to a statutory hold period of four
months and one day from the date of issuance in accordance with applicable securities laws. The
Offering remains subject to final acceptance of the TSX Venture Exchange (the "Exchange").
In connection with the Final Tranche, the Company paid finder’s fees of C$24,000 and issued
24,000 non-transferable finder’s warrants (the “Finder’s Warrants ”) to eligible parties, where
applicable, in accordance with applicable securities laws and exchange policies. Under the entire
Offering, the Company paid arm’s length finders total finder’s fees of C$ 208,920 and issued
208,920 non-transferable Finder’s Warrants. Each Finder’s Warrant is exercisable at a price of
C$1.30 per Common Share for a period of two (2) years from the date of issue.
Under the first tranche of the Offering (the “Initial Tranche”), Rob McMorran, a director of the
Company subscribed for 50,000 Units, contributing C $50,000 to the Initial Tranche. This
subscription constitutes a “related party transaction” as defined under Multilateral Instrument
61-101 (“MI 61-101”). However, the Company expects to be exempt from formal valuation and
minority shareholder approval requirements under Sections 5.5(a) and 5.7(a) of MI 61-101, as his
participation does not exceed 25% of the Company’s market capitalization.
This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will
there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation
or sale would be unlawful, including the United States of America . The securities being offered
as part of the Offering 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 state securities laws, and
accordingly may not be offered or sold in the United States except in compliance with the
registration requirements of the U.S. Securities Act and any applicable state securities laws, or
pursuant to available exemptions therefrom.
Stock Option Grant
The Company also announces that it has granted 2,468,600 stock options (the “Options”) to
certain directors, officers, employees, and advisors of the Company in accordance with its stock
option plan. The Options are exercisable at a price of C$1.10 per share for a period of five years
from the date of grant.
About BP Silver Corp.
BP Silver Corp. is a Canadian exploration company focused on advancing high -grade silver
projects in Bolivia. The Company’s flagship asset, the Cosuño Project, is strategically located in
the prolific Bolivian silver belt, a region with a rich mining histo ry and significant untapped
discovery potential. With a strong technical team and a disciplined exploration strategy, BP Silver
is positioned to unlock value for its shareholders through the discovery and development of
major silver deposits.
For further information please contact:
Tim Shearcroft, Founder and Chief Executive Officer
604-307-7032
Cautionary Statement Regarding Forward Looking Information:
Information set forth in this news release contains forward-looking statements. These statements
reflect management's current estimates, beliefs, intentions and expectations; they are not
guarantees of future performance. The Company cautions that all forward- looking statements
are inherently uncertain and that actual performance may be affected by a number of material
factors, many of which are beyond the Company 's control. Such factors include, among other
things: future prices and the supply of silver and other precious and other metals; future demand
for silver and other valuable metals; inability to raise the money necessary to incur the
expenditures required to retain and advance the property; environmental liabilities (known and
unknown); general business, economic, competitive, political and social uncertainties; results of
exploration programs; risks of the mineral exploration industry; delays in obtaining governmental
approvals; and failure to obtain necessary regulatory or sha reholder approvals. 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 for ward-looking statements. 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 POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.