First Andes Silver Closes Final Tranche of Private Placement

Rhea-AI Summary

First Andes Silver (OTC:MSLVF) has completed the final tranche of its non-brokered private placement, raising $300,000 CAD through the issuance of 3 million units at $0.10 CAD per unit. The total offering raised $1,317,000 CAD through 13.17 million units.

Each unit comprises one common share and a half warrant, with each full warrant exercisable at $0.15 CAD for two years. The company paid $5,600 in finder's fees and issued 56,000 finder's warrants. Proceeds will fund the drill program expansion at the Santas Gloria silver property and working capital needs.

Positive

• Total capital raise of $1.317 million CAD strengthens balance sheet
• Funds secured for expansion of drill program at Santas Gloria silver property

Negative

• Potential dilution from issuance of 13.17 million new units
• Additional dilution possible from exercise of warrants at $0.15 CAD

Vancouver, British Columbia--(Newsfile Corp. - July 30, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or First Andes") today announced that it has closed the final tranche of its previously announced non-brokered private placement financing (see news release dated July 3, 2025, July 15, 2025 and July 16, 2025) (the "Offering") by issuing 3,000,000 units ("Units") at a price of $0.10 CAD per unit for gross proceeds of $300,000. Under the entire Offering, the Company issued 13,170,000 Units for gross proceeds of $1,317,000.

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 final tranche of the Offering are subject to restrictions on resale for a period of four (4) months from the date of issue. Under the final tranche, the Company paid a finder's fee of $5,600 and issued 56,000 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 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 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/260650

FAQ

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

First Andes Silver raised $300,000 CAD in the final tranche by issuing 3 million units at $0.10 CAD per unit.

What is the total amount raised by First Andes Silver (MSLVF) in the entire private placement?

The company raised a total of $1,317,000 CAD by issuing 13.17 million units across all tranches of the private placement.

What are the terms of the warrants issued in First Andes Silver's private placement?

Each unit includes a 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 pay in the final tranche?

The company paid $5,600 CAD in finder's fees and issued 56,000 finder's warrants exercisable at $0.10 per share for two years.