Aftermath Silver Announces Closing of First Tranche of Private Placement

About this update from Aftermath Silver Ltd.

[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 4, 2023) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (FSE: FLM1) (the \"Company\") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the \"Private Placement\"), whereby the Company has completed the issuance of 25,940,267 units (each, a \"Unit\") at a price of $0.25 per Unit for gross proceeds of $6,485,066.75. Each Unit consists of one common share in the capital of the Company (a \"Common Share\") and one-half of one non-transferable common share purchase warrant of the Company (each whole warrant, a \"Warrant\"). Each Warrant is exercisable by the holder to acquire one Common Share for a period of 24 months from the date of closing of the Private Placement at a price of C$0.35 per share. The Company anticipates closing a second tranche of the Private Placement next week, subject to customary closing conditions, including approval by the TSX Venture Exchange. In connection with the Private Placement, the Company issued an aggregate of 43,400 finder's shares (the \"Finder's Shares\") and paid finder's commissions of an aggregate of $279,669. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, purchased 4,000,000 Units for total consideration of $1,000,000. Prior to the close of this first tranche of the Private Placement, Mr. Sprott beneficially owned and controlled 22,079,796 Common Shares and 7,439,898 Warrants, representing approximately 12.8% of the outstanding Common Shares on a non-diluted basis and 16.4% of the Common Shares on a partially-diluted basis assuming the exercise of such Warrants. Mr. Sprott now beneficially owns and controls 26,079,796 Common Shares and 9,439,898 Warrants, representing approximately 13.2% of the outstanding Common Shares on a non-diluted basis and 17.1% of the Common Shares on a partially-diluted basis assuming the exercise of such Warrants. The Units were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company, including on the open market or through private acquisitions, or sell securities of the Company, including on the open market or through private dispositions, in the future depending on market cond...

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