First Andes Silver Announces Private Placement Financing of $1,000,000 CAD

Rhea-AI Summary

First Andes Silver (OTC:MSLVF) has announced a non-brokered private placement to raise $1,000,000 CAD through the issuance of 10,000,000 units at $0.10 CAD per unit. Each unit includes one common share and one-half warrant, with each full warrant exercisable at $0.15 CAD for two years.

The proceeds will fund the expansion of the company's drill program at the Santas Gloria silver property and provide working capital. The securities will have a four-month resale restriction period, and the company may pay finder's fees to registered finders.

Positive

• Raising $1,000,000 CAD to fund drill program expansion
• Warrants provide potential additional funding at $0.15 CAD per share

Negative

• Potential dilution for existing shareholders
• Four-month resale restriction period limits immediate liquidity

News Market Reaction – MSLVF

-2.59%

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-2.59% News Effect

On the day this news was published, MSLVF declined 2.59%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - July 4, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLV) ( FSE: 9TZ0) (the "Company" or "First Andes") is pleased to announce a non-brokered private placement financing of up to 10,000,000 units ("Units") at a price of $0.10 CAD per Unit for gross proceeds of $1,000,000 CAD (the "Offering").

Each Unit will consist of one common share of the Company (a "Share") and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant will be exercisable at $0.15 CAD per Share for a period for two years from the date issue.

The securities issued under the Offering will be subject to restrictions on resale for a period of four months from the date of issue. The Company may pay finders a fee in cash and/or share purchase warrants to registered finders.

The proceeds of the Offering will be used to expand on its current drill program at the Santas Gloria silver property and general working capital purposes.

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 100 km east of Lima, Peru. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025.

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/257831

FAQ

What is the size and price of First Andes Silver's (MSLVF) private placement?

First Andes Silver is offering 10,000,000 units at $0.10 CAD per unit to raise a total of $1,000,000 CAD.

What are the terms of the warrants in First Andes Silver's (MSLVF) offering?

Each unit includes one-half warrant, with each full warrant exercisable at $0.15 CAD per share for two years from the issue date.

How will First Andes Silver (MSLVF) use the proceeds from the private placement?

The proceeds will be used to expand the current drill program at the Santas Gloria silver property and for general working capital purposes.

What is the lock-up period for First Andes Silver's (MSLVF) private placement securities?

The securities issued under the offering will have a four-month restriction period on resale from the date of issue.