Guanajuato Silver Announces Details of Private Placement

Guanajuato Silver Company Ltd., a fast-growing Mexican precious metals producer, confirmed the details of its non-brokered private placement. The company announced the issuance of 35,918,000 units at $0.24 per unit, aiming to raise gross proceeds of C$8.62 million. The placement is expected to close on October 28, 2024, pending necessary approvals, including from the TSX Venture Exchange.

Each unit comprises one common share and one-half of a share purchase warrant, allowing holders to buy an additional share at $0.35 over the next two years. Finder's fees, comprising cash and non-transferable broker warrants, may be paid, and proceeds will support working capital and general purposes.

The release emphasizes compliance with applicable securities regulations and clarifies that the offering is not for U.S. investors.