Santacruz Silver's Wholly Owned Bolivian Subsidiary, San Lucas S.A., Successfully Completes Oversubscribed Promissory Note Offering of 70 Million Bolivian Bolivianos in the Bolivian Market
Santacruz Silver's Wholly Owned Bolivian
Subsidiary, San Lucas S.A., Successfully
Completes Oversubscribed Promissory Note
Offering of 70 Million Bolivian Bolivianos in the
Bolivian Market
VANCOUVER, BC
,
Feb. 27, 2025
/CNW/ -
Santacruz Silver Mining Ltd.
(TSXV: SCZ) (OTCQB:
SCZMF) (FSE: 1SZ) ("Santacruz") is pleased to announce that its wholly owned subsidiary in
Bolivia
,
San Lucas S.A. (the "Company"), has today successfully completed the first offering of promissory
notes, named "Pagarés Bursátiles
San Lucas
- Emisión 1," under its San Lucas Promissory Notes
Issuance Program. The offering was oversubscribed and sold out in a matter of 15 minutes, for
gross proceeds of 70 million Bolivian Boliviano*. The notes have a 6.25% interest rate, a maturity
date of
February 15th, 2026
and are unsecured.
The offering was executed on the Bolivian Stock Market (Bolsa Boliviana de Valores) and received
strong demand from the Bolivian investor community, reflecting confidence in the
San Lucas
ore
sourcing and trading business and the Company's solid financial position and long-term vision. The
issuance completed today is part of the San Lucas Promissory Notes Issuance Program, which has
a total authorized amount of 140 million Bolivian Boliviano*. This milestone underscores Santacruz's
commitment to diversifying its funding sources and strengthening its capital structure.
Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented, "The strong demand and
oversubscription of the first offering under the San Lucas Promissory Notes Issuance Program
highlights the confidence of the Bolivian investment community in our operations and long-term vision.
This successful issuance reinforces
Santacruz Silver's
commitment to
Bolivia
, where we continue to
invest and grow, creating value for our stakeholders while contributing to
Bolivia's
mining sector and
economic development."
*The official Exchange Rate in Bolivia is BOB 6.96 per US$1.
About Santacruz Silver Mining Ltd.
Santacruz Silver
is engaged in the operation, acquisition, exploration, and development of mineral
properties in
Latin America
. The Bolivian operations are comprised of the Bolivar, Porco and the
Caballo Blanco Group, which consists of the Tres Amigos, Reserva and Colquechaquita mines.
The Soracaya exploration project and
San Lucas
ore sourcing and trading business are also in
Bolivia
. The
Zimapan
mine is in
Mexico
.
'signed'
Arturo Préstamo Elizondo,
Executive Chairman and CEO
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.
SOURCE
Santacruz Silver Mining Ltd.
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For further information:
For further information please contact: Arturo Préstamo, Santacruz Silver
Mining Ltd., Email: [email protected], Telephone: +52 81 83 785707; Andrés Bedregal,
Santacruz Silver Mining Ltd., Email: [email protected], Telephone: +591 22444849
CO: Santacruz Silver Mining Ltd.
CNW 08:19e 27-FEB-25