Mithril Silver and Gold Limited (MTH:ASX), a precious metals exploration company focused on its Copalquin district project in Mexico’s Sierra Madre Gold Silver Trend, has announced a brokered private placement of common shares to raise C$10 million. The company has entered into an agreement with Ventum Financial Corp., acting as lead agent and sole bookrunner, to offer 27,778,000 common shares at a price of C$0.36 per share.
The offering also includes an option for the agents to offer an additional 15% of the shares on the same terms, exercisable before the closing date. The shares will be offered on a private placement basis in all provinces of Canada, utilising the company’s available placement capacity under ASX Listing Rules 7.1 and 7.1A.
The net proceeds from the offering will be used to accelerate exploration and drilling activity at the company’s Copalquin district project in Durango State, Mexico, as well as for working capital and general corporate purposes. The offering is scheduled to close on July 29, 2025, subject to regulatory approvals, including approval from the TSX Venture Exchange.
In consideration for the agents’ services, Mithril Silver and Gold has agreed to pay a fee of 6.0% of the gross proceeds in cash, along with compensation options equal to 6.0% of the aggregate number of shares issued, exercisable at the offering price with a two-year expiry. All securities issued will be subject to a statutory hold period expiring four months and one day from the closing date.
