Santacruz Silver (NASDAQ: SCZM) unit raises Bs 70M in oversubscribed Bolivian notes
Rhea-AI Filing Summary
Santacruz Silver Mining Ltd. reports that its wholly owned Bolivian subsidiary, San Lucas, has completed an oversubscribed Bs 70 million unsecured promissory note Offering in the Bolivian capital markets. The notes bear annual interest of 10.8168% and mature on March 22, 2027.
This is the third Offering under San Lucas’ promissory note Program, which has a maximum authorized amount of Bs 140 million. After a prior Bs 70 million tranche was fully repaid on February 18, 2026 and a second Bs 70 million tranche was placed on August 11, 2025, the Program is now fully placed again at Bs 140 million.
The Offering was priced above par, oversubscribed by approximately 40%, and fully placed in about 15 minutes through the Bolsa Boliviana de Valores, highlighting strong demand from Bolivian investors and confidence in San Lucas’ ore sourcing and trading business and Santacruz’s broader operating platform in Bolivia.
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Insights
Subsidiary completes oversubscribed Bs 70M note issue at 10.8%.
Santacruz, via its Bolivian subsidiary San Lucas, has issued unsecured promissory notes for Bs 70 million at a 10.8168% annual rate, maturing on March 22, 2027. This is the third tranche under a Bs 140 million Program.
The Program is now fully placed, after the first Bs 70 million was repaid on February 18, 2026 and a second Bs 70 million offering on August 11, 2025. The notes are unsecured, so investors rely on San Lucas’ credit quality and Santacruz’s broader platform.
The Offering was oversubscribed by about 40%, priced above par, and completed in roughly 15 minutes on the Bolsa Boliviana de Valores. That pace and pricing indicate strong local investor appetite for the company’s credit, though the impact depends on how effectively the proceeds advance the transition from the prior facility.
Key Figures
Key Terms
promissory note program financial
oversubscribed financial
priced above par financial
ore sourcing and trading business financial
Bolsa Boliviana de Valores financial
unsecured financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
UNDER the Securities Exchange Act of 1934
For the month of April 2026
Commission File No.: 001-43051
Santacruz Silver Mining Ltd.
(Translation of registrant’s name into English)
480 – 1140 West Pender Street
Vancouver, British Columbia
Canada V6E 4G1
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☐ Form 40-F ☒
EXHIBIT INDEX
| Exhibit | Description | |
| 99.1 | Press Release dated April 9, 2026 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Santacruz Silver Mining Ltd. | ||
| Date: April 10, 2026 | By: | /s/ Andres Bedregal |
| Name: | Andres Bedregal | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
 |
News Release April 9th, 2026 |
Santacruz Silver’s Wholly Owned Bolivian Subsidiary, San Lucas, Successfully Completes Oversubscribed Bs 70M Promissory Note Issuance Under New Program, Advancing Transition from Prior Facility
Vancouver, B.C. – Santacruz Silver Mining Ltd. (NASDAQ: SCZM) (TSX.V: SCZ) (“Santacruz” or the “Company”) is pleased to announce that its wholly owned Bolivian subsidiary, Empresa Minera San Lucas S.A. (“San Lucas”), has successfully completed the third offering (the “Offering”) under its promissory note program (the “Program”), “Pagarés Bursátiles San Lucas – Emisión 3,” in the Bolivian capital markets on April 8, 2026.
The Offering was completed for gross proceeds of Bs 70 million. The notes have an annual interest rate of 10.8168%, mature on March 22, 2027, and are unsecured. The Offering was oversubscribed by approximately 40%, priced above par, and was fully placed in approximately 15 minutes, underscoring strong investor demand.
The Program has a maximum authorized amount of BS 140 million. The first offering of Bs 70 million was fully repaid on February 18, 2026, restoring capacity under the Program. The second offering of Bs 70 million was completed on August 11, 2025. With this third offering of Bs 70 million, the Program is once again fully placed at Bs 140 million.
The Offering was executed through the Bolsa Boliviana de Valores, and attracted strong participation from the Bolivian investor community. The results reflect continued confidence in San Lucas’ ore sourcing and trading business, as well as in Santacruz’s broader operating platform, financial profile, and long-term strategy in Bolivia.
Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented: “The speed of execution, the above-par pricing, and the strong oversubscription of this Offering clearly reflect the confidence that the Bolivian capital markets continue to place in San Lucas, as well as in Santacruz’s broader business platform. With this Offering, we have once again fully utilized the full Bs 140 million Program, reinforcing our disciplined approach to capital management and our ability to access funding efficiently.”
Mr. Préstamo continued: “This Offering is also a strong endorsement of the quality and credibility of our business model. San Lucas plays an important strategic role within Santacruz, strengthening our operating platform in Bolivia and supporting long-term value creation for our shareholders.”
Please refer to the Company’s news releases dated February 27, 2025 and August 11, 2025, for details of the first and second offerings, respectively.
About Santacruz Silver Mining Ltd.
Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties across Latin America. In Bolivia, the Company operates the Bolivar, Porco, and Caballo Blanco mining complexes, with Caballo Blanco comprising the Tres Amigos and Colquechaquita mines. The Reserva mine, whose production is provided to the San Lucas ore sourcing and trading business, is also located in Bolivia. Additionally, the Company oversees the Soracaya exploration project. In Mexico, Santacruz operates the Zimapan mine.
* Bs refers to the Bolivian boliviano (BOB). The official Exchange Rate in Bolivia is BOB 6.96 per US$1.
‘signed’
Arturo Préstamo Elizondo,
Executive Chairman and CEO
For further information please contact:
Arturo Préstamo
Santacruz Silver Mining Ltd.
Email: info@santacruzsilver.com
Telephone: +52 81 83 785707
Andrés Bedregal
Santacruz Silver Mining Ltd.
Email: info@santacruzsilver.com
Telephone: +591 22444849
Eduardo Torrecillas
Santacruz Silver Mining Ltd.
Email: info@santacruzsilver.com
Telephone: +591 22444849
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Nasdaq Capital Market LLC accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.