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TORONTO, ON / ACCESS Newswire / March 11, 2025 / Highlander Silver Corp. (CSE:HSLV)("Highlander Silver" or the "Company") is pleased to announce that it has closed its previously announced bought deal private placement, pursuant to which the Company sold 23,000,000 common shares of the Company (the "Shares") at a price of $1.40 per Share for aggregate gross proceeds of $32,200,000, which includes the full exercise of the underwriters' option (the "Offering"). The Offering was conducted by a syndicate of underwriters led by Ventum Financial Corp. (the "Lead Underwriter"), as lead underwriter and sole bookrunner, and including BMO Nesbitt Burns Inc., Haywood Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp., Stifel Nicolaus Canada Inc. and TD Securities Inc. (collectively, the "Underwriters").
Daniel Earle, President and CEO, commented, "We are deeply grateful to close our oversubscribed, upsized offering, with the continued support and investment of the Lundin family. I was delighted to be able to participate in the offering alongside my colleagues and all members of the Board, led by Richard Warke and Jerrold Annett. The strength of this financing supports expanding our community hiring and development plans as we prepare to ramp-up exploration activities at San Luis after the rainy season ends in Central Peru."
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 Shares are subject to a statutory hold period of four months and one day under applicable Canadian securities laws and the Company has entered into a customary lock-up pursuant to which it has agreed not to issue common shares for 120 days without the consent of the Lead Underwriter, subject to limited ordinary-course exceptions. In connection with the Offering, the Underwriters received a cash fee in an amount representing 6.0% of the gross proceeds of the Offering.
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.
All currency references herein are to Canadian dollar unless otherwise stated.
About Highlander Silver
Highlander Silver is advancing a portfolio of silver exploration and development assets in the Americas, including the bonanza grade San Luis gold-silver project that is located adjacent to the Pierina mine in Central Peru. Highlander Silver is backed by the Augusta Group, which boasts an exceptional track record of value creation totaling over $4.5B in exit transactions, and supported by strategic shareholders, the Lundin family and Eric Sprott. The Company is listed on the Canadian Securities Exchange ("CSE") under the ticker symbol HSLV. Additional information about Highlander Silver and its mineral projects can be viewed on the Company's SEDAR+ profile at (www.sedarplus.ca) and its website at www.highlandersilver.com.
Neither the CSE nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this news release.
Certain information contained in this news release constitutes "forward-looking information" under Canadian securities legislation. This includes, but is not limited to, information or statements with respect to the Offering, including statements with respect to the completion of the Offering and the anticipated use of the net proceeds therefrom; the future exploration plans of the Company, timing of future exploration, anticipated results of exploration and potential mineralization of the Company's mineral projects. Such forward looking information or statements can be identified by the use of words such as "believes", "plans", "suggests", "targets" or "prospects" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "will" be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties, the actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of precious and base metals, accident, labour disputes and other risks of the mining industry, and delays in obtaining governmental approvals or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.
