Apollo Silver Closes First Tranche of $27.5 Million Private Placement Offering Including $2.355 Million Investment from Insiders
VANCOUVER, British Columbia, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Apollo Silver Corp. ("Apollo Silver" or the "Company") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that it has closed the first tranche of its previously announced upsized non-brokered private placement (the "Offering") and has issued an aggregate of 3,000,000 units (the "Units") at a price of $5.00 per Unit for aggregate gross proceeds of $15,000,000.
As previously announced, Eric Sprott, one of Apollo Silver's largest shareholders, participated in the first tranche and subscribed for 2,500,000 Units, for gross proceeds of $12,500,000. The first tranche also included participation from Apollo Silver insiders, including certain directors and officers of the Company.
Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 2,500,000 Units pursuant to the first tranche of the Offering for total consideration of $12,500,000. Prior to the Offering, Mr. Sprott beneficially owned and controlled 3,688,889 Shares and 1,388,889 Warrants, representing approximately 6.5% of the outstanding Shares on a non-diluted basis and 8.7% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants.
As a result of closing the first tranche of the Offering, Mr. Sprott now beneficially owns and controls 6,188,889 Shares and 3,888,889 Warrants, representing approximately 10.3% of the outstanding Shares on a non-diluted basis and 15.8% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants. The securities are held for investment purposes.
Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
A copy of the early warning report with respect to the foregoing will appear on Apollo Silver's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto Ontario M5C 3C5).
The first tranche of the Offering included participation by certain insiders of the Company for an aggregate of 471,000 Units totaling gross proceeds of $2,355,000. Such participation constitutes a "related party transaction" under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance of securities to insiders is exempt from the valuation requirement pursuant to section 5.5(b) of MI 61-101, as the Company's shares are not listed on a specified market, and from the minority shareholder approval requirement pursuant to section 5.7(a) of MI 61-101, as the fair market value of the securities issued to related parties does not exceed twenty five percent of the Company's market capitalization.
A fund managed by Jupiter Asset Management has subscribed for Units under the Offering, which are expected to be issued in a subsequent and final tranche upon receipt of, and subject to, the ...
