Guanajuato Silver Announces Brokered LIFE Offering of Units

Guanajuato Silver Company Ltd. has declared a brokered best-efforts private placement, aiming to raise between C$6,000,000 and C$8,625,000. The offering, managed by Research Capital Corporation and Red Cloud Securities Inc., consists of units priced at C$0.20 each. Each unit includes a common share and a purchase warrant, which allows the holder to buy an additional share at C$0.30 within 24 months.

The proceeds from this offering will enhance underground mining operations and upgrade the processing facilities at the Topia mine. Funds are also earmarked for general corporate expenses and detailed exploration activities at the San Ignacio and Valenciana properties. Despite its non-registration in the U.S. under the 1933 Act, the units will be immediately free-trading in Canada.

Investors can find the offering document on the company's SEDAR+ profile and its website. The offering is expected to close around May 6, 2024, pending regulatory approvals, including that of the TSX Venture Exchange. Agents involved will receive a commission and broker warrants equivalent to 6% of the gross proceeds and the units sold, respectively.