Guanajuato Silver Completes C$8.7 Million Financing

Guanajuato Silver Company Ltd., a fast-growing Mexican precious metals producer, has closed its non-brokered private placement, raising C$8.72 million. The company issued 36,335,000 units at C$0.24 each, granting investors one common share and half a warrant per unit. Warrants allow holders to buy additional shares at C$0.35 over two years.

The private placement includes a significant C$3 million investment by Eric Sprott. Funds will support capital expenditures for increasing production, plus general corporate needs. Connected parties, including Myrmikan Gold Fund, LLC, participated, buying 834,000 units.

Medalist Capital Advisors received a finder's fee for raising C$7.36 million. All securities come with a hold period until March 1, 2025. Additionally, Guanajuato Silver settled a US$1 million payment to Endeavour Silver Corp. in shares linked to the El Cubo mine milestone.