Highlander Silver Announces $330M Senior Secured Project Finance Facility Mandate with Natixis CIB
Highlander Silver Announces $330M Senior Secured Project Finance Facility Mandate with
Natixis CIB
All amounts in this release are in U.S. dollars unless otherwise indicated.
Toronto, September 23, 202 6 – Highlander Silver Corp. (TSX, NYSE American: HSLV)
(“Highlander Silver” or the “Company”) is pleased to announce that it has executed a mandate
letter with Natixis Corporate & Investment Banking (“Natixis CIB”) to lead a fully underwritten 7-
year senior secured structured project finance facility of $330 million (the “Facility”) to fund the
development and construction of the Corani Silver Project in Peru. The financing will be supported
by a cost overrun facility of up to $100 million to be established prior to first draw and provided by
the Company; final facility amounts will be subject to due diligence. As of June 30, the Company
reported a cash balance of approximately $100 million and no debt.
Natixis CIB brings deep expertise in structuring project financing for large -scale mining
developments, reinforcing the Corani Silver Project as a globally recognized, bankable asset. The
execution of this mandate letter represents a major milestone in advancing towards a fully funded
construction package.
Daniel Earle, President & CEO of Highlander Silver, commented:
“Highlander Silver is delighted to partner with Natixis CIB, which is widely regarded as one of the
world’s leading project finance institutions, with a distinguished track record of financing
successful development projects. The Facility represents a stro ng endorsement of the Corani
Silver Project, providing high-quality capital that follows a rigorous multidisciplinary due diligence
process across key technical, financial, environmental and social aspects of the project that set it
apart from recent peer financings in the high -yield and convertible debt markets. Importantly,
Highlander Silver has retained 100% of the offtake rights to the project to preserve optionality and
maximize future value amidst an intensifying global competition for clean concentrates.”
The Facility is subject to completion of definitive documentation, which will include customary
project finance terms, fees and conditions, credit approvals, and the completion of ongoing
detailed technical, financial, environmental and social due diligence. Closing is expected in the
first quarter of 2027.
About Natixis Corporate & Investment Banking
Natixis Corporate & Investment Banking is a leading global financial institution that provides
advisory, investment banking, financing, corporate banking and capital markets services to
corporations, financial institutions, financial sponsors and sovereign and supranational
organizations worldwide. As part of Groupe BPCE, the second largest banking group in France
through the Banque Populaire and Caisse d'Epargne retail networks, Natixis CIB benefits from
the Group's financial strength and solid financial ratings (Standard & Poor's: A+, Moody's: A1,
Fitch: A+, R&I: A+).
On behalf of Highlander Silver
“Daniel Earle”
President and CEO
Information contact
Arun Lamba, Vice President Corporate Development
About Highlander Silver
Highlander Silver is a high -quality silver-growth company developing a portfolio of advanced -
stage assets in Peru which includes the bonanza-grade San Luis gold-silver project, which ranks
among the 10 highest-grade projects globally in both gold and silver categories , and the Corani
silver project, the largest silver deposit in development globally.1 The Company also operates the
Mercedes gold-silver mine in Mexico. Highlander Silver's major shareholders include the Augusta
Group, Lundin family, and Eric Sprott.
Forward-looking statements
Certain information contained in this news release constitutes “forward-looking information” under
Canadian securities legislation. This includes, but is not limited to: statements regarding the
Facility, including its anticipated amount, tenor, interest r ate, spread and other terms; the timing
and ability of the Company to complete and draw under the Facility; the completion of definitive
documentation, ongoing due diligence; the establishment and amount of a cost overrun facility;
the anticipated timing o f closing; the use of proceeds of the Facility to fund development of the
Corani Silver Project. Such forward looking information or statements can be identified by the use
of words such as “anticipates”, “expects”, “intends”, “believes”, “plans”, “may”, “subject to” or
“underway” or variations (including negative variations) of such words and phrases, or state that
certain actions, events or results “will” be taken, occur, or be achieved. Forward -looking
information is based on management’s reasonable assumptions, estimates, expectations,
analyses and opinions, including: that due diligence and definitive documentation will be
completed on terms consistent with the mandate letter; the applicable conditions precedent will
be satisfied; the cost overrun facility will be available on acceptable terms; and there will be no
material adverse change affecting the Company, the Corani Silver Project or the financing
markets. Forward-looking information involves known and unknown risks, uncertainties, and other
factors which may cause the actual results, performance, or achievements of the Company and/or
its subsidiaries to be materially different from any future results, performance, or achievements
expressed or implied by the forward -looking information. Such factors include, among others:
general business, economic, competitive, po litical and social uncertainties; the actual results of
current exploration activities; changes in project parameters as plans continue to be refined; future
prices of precious and base metals; accident, labour disputes and other risks of the mining
industry; delays in obtaining governmental or stock exchange approvals or financing; and risks
related to the Facility, including that definitive documentation may not be completed on the terms
1 S&P Global rankings including the Corani silver project and San Luis gold -silver project.
contemplated or at all, ongoing due diligence may not be completed to the satisfaction of Natixis
CIB, conditions precedent may not be satisfied, the cost overrun facility may not be established
on acceptable terms or at all, closing or drawdowns under the Facility may be delayed or may not
occur, interest rates may change, or project costs may increase, or the development of the Corani
Silver Project may be delayed, cost more than anticipated or be adversely affected by technical,
environmental, social, permitting, construction or other development risks. Although the Company
has attempted to identify important factors that could cause actual actions, events or results to
differ materially from those described in forward -looking information, there may be ot her factors
that could cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking information contained herein is made as of the date of this news release. There
can be no assurance that forward-looking information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking information if circumstances or management’s
estimates or opinions should change, except as required by applicable securities laws.
Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.