First Andes Silver Announces $2 Million Private Placement Financing

Rhea-AI Summary

First Andes Silver (OTC: MSLVF) announced a private placement to issue up to 16,666,667 common shares at $0.12 per share for aggregate gross proceeds of up to $2,000,000 using the listed issuer financing exemption (LIFE Exemption). The company may pay finders in cash and warrants exercisable at $0.12 for two years. Net proceeds are slated for an augmented Q2 2026 drilling program and exploration at the Santas Gloria property, annual Peruvian claim payments, and general working capital. An offering document will be posted on SEDAR+ and the company website. Closing is subject to TSX Venture Exchange acceptance.

Positive

• Raises up to $2,000,000 through the private placement
• Funds allocated to an augmented Q2 2026 drilling program at Santas Gloria
• Permits issuance of finders' warrants exercisable at $0.12 for two years

Negative

• Issuance of 16,666,667 shares may dilute existing shareholders
• Finder fees and warrants create additional potential dilution
• Closing is subject to TSXV acceptance and is not guaranteed

News Market Reaction

+2.52%

1 alert

+2.52% News Effect

On the day this news was published, MSLVF gained 2.52%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - January 21, 2026) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) ("First Andes" or the "Company") is pleased to announce a private placement financing of up to 16,666,667 common shares (each, a "Common Share") at a price of $0.12 per Common Share for aggregate gross proceeds of up to $2,000,000 (the "Offering") pursuant to an in accordance with the listed issuer financing exemption under Section 5A.2 of National Instrument 45-106 - Prospectus Exemptions, as amended by Coordinate Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "LIFE Exemption").

The Company may pay finders a fee in cash and share purchase warrants as permitted under the rules of the TSX Venture Exchange. Each finder's warrant will be exercisable at a price of $0.12 per share for a period of two years from the date of issue.

There will be an offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the Company's website. Prospective investors should read the offering document before making an investment decision.

The net proceeds of the offering will be used on: (i) an augmented Q2 2026 drilling program at the Santas Gloria Property; (ii) exploration work the Santas Gloria Property; (iii) annual mineral claim payments in Peru; and (vi) general working capital purposes.

Closing is subject to the acceptance of the TSX Venture Exchange.

About First Andes Silver Ltd.

First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 55 km east of Lima, Peru. Santas Gloria has excellent established road access, is situated within a well-known intermediate-sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface that had never been historically drilled or explored by modern techniques prior to 2024. In only two phases of diamond drilling (2024-2025), First Andes has reported strong near-surface epithermal silver intercepts in 21 of 26 drill holes, confirming silver mineralization across multiple vein systems and supporting systematic, project-wide exploration and follow-up drilling in 2026.

For more information please contact:
Colin Smith, CEO & Director
Phone: 604 806-0626 (ext. 108)
E-mail: info@firstandes.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281190

FAQ

What is the size and price of First Andes Silver's (MSLVF) private placement announced January 22, 2026?

The company offered up to 16,666,667 common shares at $0.12 per share for up to $2,000,000 in gross proceeds.

How will First Andes Silver (MSLVF) use the proceeds from the $2,000,000 offering?

Net proceeds will fund an augmented Q2 2026 drilling program and exploration at Santas Gloria, annual Peru claim payments, and general working capital.

Will First Andes Silver (MSLVF) issue warrants or pay finder fees in the January 2026 financing?

Yes; the company may pay finders cash and warrants, and each finder's warrant will be exercisable at $0.12 for two years.

Where can investors find the offering document for First Andes Silver's (MSLVF) private placement?

The offering document will be posted under the company's profile on SEDAR+ and on the company's website.

Is the First Andes Silver (MSLVF) private placement closed and final as of January 22, 2026?

No; closing is subject to acceptance by the TSX Venture Exchange.