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Highlander Silver Announces $25 Million Bought Deal Private Placement of Common Shares

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TORONTO, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Highlander Silver Corp. (CSE: HSLV;Highlander Silver” or the “Company”) is pleased to announce that it has entered into an agreement with Ventum Financial Corp. as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 17,857,200 common shares (the “Shares”) of the Company at a price of $1.40 per Share for aggregate gross proceeds of $25,000,080 (the “Offering”), excluding additional proceeds raised from the exercise of the Underwriters’ Option (defined below).

Certain members of the Board and management of Highlander Silver and members of the Lundin family have indicated their interest in participating in the Offering.

The Company intends to use the net proceeds from the Offering to fund the advancement of exploration activities at the Company’s San Luis gold-silver project in Peru, as well as for working capital and general corporate purposes.

The Company has agreed to grant the Underwriters an option (the “Underwriters’ Option”) which will allow the Underwriters to purchase up to an additional 15% of the Shares, on the same terms as the Offering. The Underwriters’ Option may be exercised in whole or in part up to 48 hours prior to the Closing Date (as defined below).

The Offering is scheduled to close on March 11, 2025 (the “Closing Date”), or such other date as the Company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.

The Shares (including any Shares issued pursuant to the Underwriters’ Option) will be offered on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws, in all provinces of Canada, except Québec, and will be subject to a statutory hold period of four months and one day from the Closing Date.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.