Apollo Silver increases private placement to $26.8 million

Apollo Silver Corp. (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF0) increased the size of its private placement offering to up to 7,437,680 units at $3.60 per unit, for aggregate gross proceeds of up to $26,775,648.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase shares at $5.50 for 24 months from closing. The warrants include an acceleration provision that allows the company to accelerate expiry if shares trade at $7.50 or higher for 10 consecutive trading days after four months and one day from closing.

Securities issued will be subject to a four-month hold period. The company plans to use proceeds to advance the Calico Silver Project in San Bernardino, California, support community relations at the Cinco de Mayo Silver Project in Chihuahua, Mexico, cover property maintenance costs, and for general corporate purposes.

The offering includes participation by company insiders, constituting a related party transaction under Multilateral Instrument 61-101. The transaction is exempt from formal valuation requirements as shares are not listed on a specified market, and from minority shareholder approval as the fair market value of securities issued to related parties does not exceed 25% of market capitalization.

Closing remains subject to regulatory approval including from the TSX Venture Exchange. Finder's fees may be payable on some or all funds raised according to TSXV policies.

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