Apollo Gold & Silver Announces C$40 Million Brokered Private Placement

About this update from Apollo Silver Corp

[{"type":"text","content":" VANCOUVER, British Columbia, June 07, 2021 (GLOBE NEWSWIRE) -- Apollo Gold & Silver Corp. (“Apollo” or the “Company”) (TSXV: APGO) is pleased to announce, further to its news release dated May 12, 2021, the terms of its concurrent financing (the “Concurrent Financing”) of subscription receipts (the “Subscription Receipts”) in connection with its previously announced acquisition of Stronghold Silver Corp. (“Stronghold”) (the “Transaction”), Eight Capital will be the lead agent and joint bookrunner along with Desjardins Securities Inc. (“Desjardins”), on behalf of a syndicate of agents (together with Eight Capital and Desjardins, the “Agents”) in connection with the Concurrent Financing. The Company will sell, on a private placement basis, Subscription Receipts at a price of $0.75 per Subscription Receipt (the “Issue Price”), for minimum aggregate gross proceeds of $40,000,500. Upon satisfaction of certain escrow release conditions, each Subscription Receipt shall be automatically exchanged, without any further action by the holder of such Subscription Receipt (and for no additional consideration), for one unit of the Company (a “Unit”). Each Unit shall consist of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (each full warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one common share of the Company (each, a “Warrant Share”) at a price of $1.25 per Warrant Share for period of 24 months from the date of issuance. The Company has granted Eight Capital an option (the “Option”) to offer for sale up to an additional 15% of the number of Subscription Receipts sold pursuant to the Concurrent Financing, at the Issue Price, exercisable in whole or in part for a period of up to 48 hours prior to the closing of the Concurrent Financing. Following the acquisition of Stronghold, the proceeds of the Concurrent Financing will be used to acquire the Waterloo Project from Pan American Minerals Inc., a subsidiary of Pan American Silver Corp., and for working capital and general corporate purposes. The Subscription Receipts will be issued pursuant to a subscription receipt agreement (the “Subscription Receipt Agreement”) to be entered into among the Company, Eight Capital and the subscription receipt agent. Pursuant to the Subscription Receipt Agreement, the gr...

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