Apollo Silver raises $25 million from Eric Sprott and Jupiter Asset

Apollo Silver Corp. (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) announced a $25 million private placement offering with participation from its two largest shareholders, Eric Sprott and Jupiter Asset Management.

The offering consists of 5 million units priced at $5.00 each. Eric Sprott and a Jupiter Asset Management fund will each subscribe for 2.5 million units. Each unit includes one common share and half of a warrant, with warrants exercisable at $7.00 for 24 months from closing.

Following completion, Jupiter Asset Management will own approximately 12.1% of Apollo Silver's outstanding common shares, while Eric Sprott will hold approximately 9.6% on an undiluted basis.

"We appreciate the continued support of both Eric Sprott and Jupiter Asset Management, our two largest shareholders," said Andrew Bowering, Chairman of Apollo Silver. "Their participation in this financing further aligns our largest shareholders with Apollo's long-term strategy as we advance our portfolio and execute on our exploration and development plans."

The company plans to use proceeds for exploration and development activities across its projects, along with general working capital and corporate purposes. All securities will be subject to a four-month hold period from closing.

Apollo Silver operates the Calico silver project in the United States and holds an option on the Cinco de Mayo project in Chihuahua, Mexico. The offering requires regulatory approval including from the TSX Venture Exchange.

The information is based on a company press release.

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