ABRASILVER ANNOUNCES CLOSING OF BOUGHT DEAL LIFE OFFERING

Key Takeaways:

• Completion of a bought deal financing, raising US$46.24 million.
• Kinross Gold Corporation invests an additional US$1.9 million.
• New shares from the concurrent placement carry a four-month-plus-one-day hold period.
• CEO John Miniotis anticipates accelerated development at Diablillos.
• Participation from a corporation beneficially owned by Eric Sprott indicates strong investor support.

AbraSilver’s Strategic Win

AbraSilver Resource Corp. recently announced the closing of a bought deal private placement, setting the stage for an impactful phase of growth. The offering strengthens the company’s balance sheet, which President and CEO John Miniotis describes as the “strongest” in its history.

Details of the Financing

The newly completed bought deal included the issuance of 6,513,000 common shares at a price of US$7.10 per share, for total gross proceeds of US$46,242,300. This figure incorporates the partial exercise of the underwriters’ option. In addition to significant investor participation, a corporation beneficially owned by Eric Sprott joined the financing, signaling continued confidence in AbraSilver’s trajectory.

Kinross Participation

Concurrent with the main offering, Kinross Gold Corporation exercised its participation right and acquired 270,860 common shares, providing an added US$1,923,106 in proceeds. These shares are subject to a hold period of four months plus one day from the date of issuance, ensuring alignment with regulatory requirements.

CEO Remarks and Future Outlook

John Miniotis, President and CEO of AbraSilver, emphasized the importance of this financing for driving forward key initiatives at the Diablillos project. “We’re pleased to close this financing at a time of strong progress for AbraSilver,” he said, noting that the company is now “very well positioned for a pivotal year ahead” as it advances the project. This infusion of capital underscores investor confidence and positions AbraSilver to expand and develop its core operations.

Summary of Key Figures

Note: All information is derived exclusively from the original news feed.