Apollo Silver plans $20.88 million private placement offering

Apollo Silver Corp. (TSX.V: APGO, OTCQB: APGOF) announced a non-brokered private placement offering of up to 5.8 million units at $3.60 per unit for gross proceeds of up to $20.88 million.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase one share at $5.50 for 24 months from closing. The company can accelerate warrant expiry if shares trade at $7.50 or higher for 10 consecutive trading days after a four-month waiting period.

All securities will be subject to a four-month hold period from closing. The company may pay finder's fees on some or all funds raised, subject to TSX Venture Exchange policies.

Apollo Silver plans to use proceeds to advance its Calico Silver Project in San Bernardino, California, support community relations at the Cinco de Mayo Silver Project in Chihuahua, Mexico, cover property maintenance costs at both projects, and fund general corporate purposes.

The offering requires regulatory approval, including from the TSX Venture Exchange. The securities have not been registered under U.S. securities laws and may not be offered or sold in the United States without registration or applicable exemptions.

The Vancouver-based company operates silver mining projects in the United States and Mexico. Information is based on a company press release.

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