Prince Silver Increases Private Placement to up to $4.75 Million

Rhea-AI Summary

Prince Silver (CSE:PRNC / OTCQB:PRNCF) increased its previously announced non-brokered private placement from $3.0M to up to $4.75M due to strong investor demand. The Offering is up to 6,785,714 Units at $0.70 per Unit, each Unit including one share and one-half warrant.

Each whole warrant is exercisable at $1.00 for two years with an acceleration feature if shares trade at $1.40 for 10 consecutive trading days. Proceeds will fund drilling, a maiden resource estimate, metallurgical work, and working capital, subject to regulatory approval and customary closings.

Positive

• Offering upsized to $4.75M reflecting investor demand
• Proceeds earmarked to advance drilling at Prince Silver Project
• Funding allocated to complete a maiden mineral resource estimate

Negative

• Company may issue up to 6,785,714 Units, creating potential share dilution
• Warrants exercisable at $1.00 for two years could add future dilution

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / February 3, 2026 / Prince Silver Corp. (CSE:PRNC)(OTCQB:PRNCF)(Frankfurt:T130) ("Prince Silver"or the "Company") is pleased to announce that, due to strong investor demand, it has increased the size of its previously announced non-brokered private placement (the "Offering") from $3,000,000 to up to $4,750,000.

The upsizing reflects continued support from existing shareholders and interest from new investors as the Company advances the Prince Silver Project, located in the Pioche Mining District, Nevada.

The Offering consists of units (the "Units") priced at $0.70 per Unit. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at a price of $1.00 for a period of two years from the date of issuance, provided that, if the closing price of the company's common shares for a period of 10 consecutive trading days is $1.40 or higher, the company will have the right to accelerate the expiry date of the warrants upon notice given by press release and the warrants will thereafter expire on the 30th calendar day after the date of such press release, or such later date as may be stated in the news release.

In connection with the upsizing, the Company may issue up to 6,785,714 Units for total gross proceeds of up to $4,750,000, subject to regulatory approval and customary closing conditions. All securities issued under the Offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.

Proceeds from the Offering are expected to be used to advance the next phase of drilling at the Prince Silver Project, complete a maiden mineral resource estimate, conduct ongoing metallurgical work, and for general working capital purposes.

Finders' fees may be paid in accordance with applicable securities laws and exchange policies.

About Prince Silver Corp.

Prince Silver Corp. is a silver exploration company advancing its past-producing Prince Silver-Zinc-Manganese-Lead Mine in Nevada, USA. Featuring near-surface mineralization that was historically drill tested by over 129 holes and is open in all directions, the Prince Project offers a clear path toward a maiden 43-101 compliant resource estimate. The Company also holds an interest in the Stampede Gap Project, a district-scale copper-gold-molybdenum porphyry system located 15 km north-northwest of the Prince Silver Project, highlighting Prince Silver's focus on high-potential, strategically located exploration assets.

On Behalf of the Board of Directors

Derek Iwanaka, CEO & Director
Tel: 604-928-2797
Email: info@princesilvercorp.com
Website: www.princesilvercorp.com

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: ongoing and proposed drill programs, amendments to the Company's website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any 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.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE: Prince Silver Corp.

View the original press release on ACCESS Newswire

FAQ

What are the terms of Prince Silver's upsized private placement (PRNCF) on Feb 3, 2026?

According to the company, the upsized placement is up to $4.75M via Units at $0.70 each. Each Unit includes one share and one-half warrant; whole warrants exercise at $1.00 for two years with an acceleration clause.

How many Units will Prince Silver (PRNCF) issue if the offering fully subscribes?

According to the company, the Offering may issue up to 6,785,714 Units at $0.70 per Unit. Issuance is subject to regulatory approval and customary closing conditions.

What will Prince Silver (PRNCF) use the proceeds from the private placement for?

According to the company, proceeds will fund the next phase of drilling, complete a maiden mineral resource estimate, continue metallurgical work, and provide general working capital for the Prince Silver Project.

What are the warrant exercise details and any acceleration feature for PRNCF warrants?

According to the company, each whole warrant allows purchase of one share at $1.00 for two years. If shares trade ≥ $1.40 for 10 consecutive days, the company may accelerate warrant expiry with 30 days' notice.

Are there restrictions on resale for securities issued in Prince Silver's Offering (PRNCF)?

According to the company, all securities issued under the Offering will be subject to a statutory hold period of four months and one day under applicable securities laws and exchange policies.