First Andes Silver Closed First Tranche of Private Placement

Rhea-AI Summary

First Andes Silver (TSXV: FAS, OTC: MSLVF) has completed the first tranche of its non-brokered private placement, raising $1,017,000 CAD through the issuance of 10,170,000 units at $0.10 CAD per unit.

Each unit comprises one common share and one-half share purchase warrant, with each full warrant exercisable at $0.15 CAD for two years. The company paid $42,350 in finder's fees and issued 423,500 finder's warrants. Proceeds will fund the expansion of drilling at the Santas Gloria silver property and working capital needs.

The securities have a four-month resale restriction period, and a second tranche is expected to close within seven days, subject to TSX Venture Exchange approval.

Positive

• Secured $1.017M CAD in fresh capital through private placement
• Warrants provide potential for additional future funding at $0.15 per share
• Funds allocated to expand drill program at Santas Gloria silver property

Negative

• 4-month resale restriction period limits immediate liquidity
• 10% dilution through issuance of new shares
• Additional dilution expected with second tranche closing

News Market Reaction – MSLVF

+7.02%

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+7.02% News Effect

On the day this news was published, MSLVF gained 7.02%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - July 16, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or First Andes") today announced that is has closed the first tranche of its previously announced non-brokered private placement financing (see news release dated July 4, 2025 and July 15, 2025) (the "Offering") by issuing 10,170,000 units ("Units") at a price of $0.10 CAD per unit for gross proceeds of $1,017,000.

Each Unit consists 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 of two (2) years from the date of issue.

The securities issued under the first tranche of the Offering are subject to restrictions on resale for a period of four (4) months from the date of issue. The Company paid a finder's a fee of $42,350 and 423,500 share purchase warrants with each finder's warrant exercisable at a price of $0.10 per share for a period of two (2) years from the date of issue.

The proceeds of the first tranche will be used to expand on its current drill program at the Santas Gloria silver property and general working capital purposes. The Company anticipates the second tranche of the Offering will close within seven calendar days and is subject to accept 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 and is situated within a well-known intermediate sulfidation 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 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 and 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/259092

FAQ

How much did First Andes Silver (MSLVF) raise in its first tranche private placement?

First Andes Silver raised $1,017,000 CAD by issuing 10,170,000 units at $0.10 CAD per unit in the first tranche of its private placement.

What are the terms of First Andes Silver's (MSLVF) private placement warrants?

Each unit includes one-half warrant, with each full warrant exercisable at $0.15 CAD per share for a period of 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 finder's fees did First Andes Silver (MSLVF) pay for the private placement?

The company paid $42,350 CAD in finder's fees and issued 423,500 finder's warrants exercisable at $0.10 per share for two years.

When is First Andes Silver (MSLVF) expected to close the second tranche?

The company expects to close the second tranche within seven calendar days, subject to TSX Venture Exchange acceptance.