Business
Titiminas Silver Completes $16.6 Million Concurrent Financing
Vancouver, British Columbia--(Newsfile Corp. - March 25, 2026) - 1317202 B.C. Ltd. ("131") and Titiminas Silver Inc. ("Titiminas") are pleased to announce the c
About this update from Titiminas Silver, Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - March 25, 2026) - 1317202 B.C. Ltd. (\"131\") and Titiminas Silver Inc. (\"Titiminas\") are pleased to announce the closing of Titiminas' previously announced subscription receipt offering (the \"Offering\"), as outlined in their press release dated January 28, 2026 (the \"January Release\"). Pursuant to the Offering, Titiminas raised aggregate gross proceeds of $16,617,125 through the sale of 9,495,500 subscription receipts (each a \"Subscription Receipt\") at a price of $1.75 per Subscription Receipt (the \"Offering Price\"). The Offering was led by Canaccord Genuity Corp., as lead agent, on behalf of a syndicate which included Medalist Capital Advisors Inc. and Beacon Securities Limited (collectively, the \"Agents\"). In connection with the Offering, the Agents are entitled to receive a cash commission of 6.0% of the gross proceeds of the Offering, other than in respect of certain purchasers on a president's list for which the Agents are entitled to receive a cash commission of 3.0% (the \"Agents' Fee\"). An additional cash commission of 5.0% of the proceeds raised is payable in respect of certain president's list subscribers to an arm's length finder. The aggregate gross proceeds from the sale of the Subscription Receipts, less (i) 50% of the Agents' Fee in connection with the Offering; and (ii) the Agents' reasonable out-of-pocket expenses and the reasonable fees and disbursements of the Agents' legal counsel incurred prior to the closing of the Offering (the \"Escrowed Funds\"), were deposited in escrow pursuant to the Subscription Receipt Agreement (as defined below) in an interest bearing account pending the earlier of: (i) the satisfaction of the Escrow Release Conditions (as defined below) and (ii) the occurrence of a Termination Event (as defined below). Each Subscription Receipt entitles the holder thereof to receive, without any further action and without payment of additional consideration, and subject to adjustments in certain circumstances, one common share of Titiminas (a \"Subscription Receipt Share\") upon the satisfaction or waiver of the Escrow Release Conditions prior to the Termination Date. The Subscription Receipts were issued pursuant to and governed by the terms of a subscription receipt agreement (the \"Subscription Receipt Agreement\") dated March 2...