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Santacruz Silver (SCZM) raises Bs 70M via Bolivian promissory notes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Santacruz Silver Mining Ltd. reports that its wholly owned Bolivian subsidiary, Empresa Minera San Lucas S.A., has completed the fourth offering under its promissory note program in the Bolivian capital markets. This Offering raised Bs 70 million in unsecured promissory notes, bearing an annual interest rate of 10.9985% and maturing on July 18, 2027.

The promissory note program has a maximum authorized amount of Bs 140 million. Earlier offerings of Bs 70 million in 2025 were fully repaid in 2026, and the third and fourth offerings each replace prior tranches, restoring the program to its full capacity. The latest Offering was fully subscribed through the Bolsa Boliviana de Valores, supported by Bolivian institutional investors, and is described as further advancing the transition from a prior facility. Santacruz operates multiple mining assets in Bolivia and Mexico, with San Lucas providing ore sourcing and trading in Bolivia.

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Fourth Offering Size Bs 70 million Unsecured promissory notes issued by San Lucas on August 4, 2026
Interest Rate 10.9985% per year Annual interest on the fourth San Lucas promissory note Offering
Maturity Date July 18, 2027 Maturity of the fourth San Lucas promissory notes
Program Maximum Bs 140 million Maximum authorized amount of the San Lucas promissory note program
First Offering Repaid February 18, 2026 Repayment date of the first Bs 70 million Offering completed February 27, 2025
Second Offering Repaid June 15, 2026 Repayment date of the second Bs 70 million Offering completed August 8, 2025
Third Offering Date April 8, 2026 Completion date of the third Bs 70 million Offering
Official Exchange Rate BOB 12.08 per US$1 Official Bolivian exchange rate disclosed in the announcement
promissory note program financial
"its promissory note program (the “Program”), “Pagarés Bursátiles San Lucas – Emisión 4”"
unsecured promissory notes financial
"through unsecured promissory notes bearing an annual interest rate of 10.9985%"
Bolsa Boliviana de Valores financial
"The Offering was completed through the Bolsa Boliviana de Valores"
Pagarés Bursátiles financial
"under its promissory note program (the “Program”), “Pagarés Bursátiles San Lucas – Emisión 4”"

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FAQ

What financing did Santacruz Silver (SCZM) announce in Bolivia?
Santacruz Silver announced that its San Lucas subsidiary completed a fourth promissory note Offering for Bs 70 million in Bolivia. The unsecured notes carry 10.9985% annual interest, mature on July 18, 2027, and were fully subscribed by institutional investors.

What is the size of Santacruz Silver’s (SCZM) San Lucas promissory note program?
The San Lucas promissory note program has a maximum authorized capacity of Bs 140 million. Each Offering has been for Bs 70 million, with earlier 2025 tranches fully repaid in 2026 and newer offerings replacing them to maintain full program capacity.

What are the key terms of the new San Lucas notes issued by Santacruz Silver (SCZM)?
The new San Lucas promissory notes total Bs 70 million, are unsecured, bear a 10.9985% annual interest rate, and mature on July 18, 2027. They were issued in the Bolivian capital market through the Bolsa Boliviana de Valores and fully subscribed.

How does the new Offering affect Santacruz Silver’s (SCZM) Bolivian note program?
The Bs 70 million Offering replaces the program’s second tranche and brings the total back to Bs 140 million, its full authorized amount. Earlier offerings in 2025 were repaid in 2026, with subsequent tranches structured to maintain this capacity under the program.

What exchange rate did Santacruz Silver (SCZM) disclose for the Bolivian boliviano?
Santacruz Silver disclosed an official exchange rate of BOB 12.08 per US$1. This rate provides context for the Bs 70 million promissory note Offering and the Bs 140 million maximum program size in terms of their value in U.S. dollars.

Which mining assets support Santacruz Silver’s (SCZM) San Lucas business in Bolivia?
In Bolivia, Santacruz operates the Bolivar, Porco, and Caballo Blanco mining complexes, plus the Reserva mine that supplies ore to San Lucas. The company also oversees the Soracaya exploration project, providing a broader asset base for its Bolivian operations.

 

 

 

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 August 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 August 5, 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: August 5, 2026 By: /s/ Andres Bedregal
  Name:  Andres Bedregal
  Title: Chief Financial Officer

 

 

 

Exhibit 99.1

 

 

News Release

August 5, 2026

 

Santacruz Silver’s Wholly Owned Bolivian Subsidiary, San Lucas, Successfully Completes Fourth Tranche of 70 Million Bolivian Bolivianos Promissory Note in the Bolivian Market, Further 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 fourth offering (the “Offering”) under its promissory note program (the “Program”), “Pagarés Bursátiles San Lucas – Emisión 4”, in the Bolivian capital markets on August 4, 2026.

 

The Offering raised gross proceeds of 70 million Bolivian bolivianos (“Bs” ) through unsecured promissory notes bearing an annual interest rate of 10.9985% and maturing on July 18, 2027.

 

The Program has a maximum authorized amount of Bs 140 million. The first offering of Bs 70 million was completed on February 27, 2025 and was fully repaid on February 18, 2026. The third offering of Bs 70 million was completed on April 8, 2026, replacing the first offering under the Program and returning the Program to its maximum authorized amount of Bs 140 million. The second offering of Bs 70 million was completed on August 8, 2025, and was fully repaid on June 15, 2026. The Offering of Bs 70 million replaces the second offering under the Program, bringing the Program back to its full authorized amount of Bs 140 million.

 

The Offering was completed through the Bolsa Boliviana de Valores and was fully subscribed, reflecting continued support from Bolivian institutional investors.

 

Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented: “The successful completion of this fourth offering demonstrates the continued confidence that Bolivian investors have in San Lucas and Santacruz. Achieving full placement in today’s market environment underscores the strength of our operating platform, our disciplined financial management, and our ability to consistently access local capital. It also reflects the quality and credibility of our business model, with San Lucas playing a key strategic role in strengthening our operations in Bolivia and supporting long-term value creation for our shareholders.”

 

Please refer to the Company’s news releases dated February 27, 2025, August 11, 2025 and April 9, 2026 for details of the first, second and third offerings, respectively.

 

* Bs refers to the Bolivian boliviano (BOB). The official Exchange Rate in Bolivia is BOB 12.08 per US$1.

 

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.

 

‘signed’

Arturo Préstamo Elizondo,

Executive Chairman and CEO

 

1

 

 

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.

 

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Source: View Original Filing on SEC EDGAR

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