Americas Gold and Silver (USAS): Schedule 13G disclosure by NewGen Asset Management Limited, NewGen Holdco Limited, and NewGen Equity Long/Short Fund reports beneficial ownership of 9,285,312 Common Shares, representing 3.4% of the class. The filers list 0 shares with sole voting or dispositive power and 9,285,312 shares with shared voting and shared dispositive power.
The securities are directly owned by advisory clients of NewGen Asset Management Limited, and none of those clients may be deemed to beneficially own more than 5%. The certification states the holdings were not acquired or held for the purpose of changing or influencing control. Event date: 09/30/2025.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Americas Gold and Silver Corporation
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
03062D100
(CUSIP Number)
09/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
03062D100
1
Names of Reporting Persons
NewGen Asset Management Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
9,285,312.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
9,285,312.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
9,285,312.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.4 %
12
Type of Reporting Person (See Instructions)
IA, CO
SCHEDULE 13G
CUSIP No.
03062D100
1
Names of Reporting Persons
NewGen Holdco Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
9,285,312.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
9,285,312.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
9,285,312.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.4 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP No.
03062D100
1
Names of Reporting Persons
NewGen Equity Long/Short Fund
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
9,285,312.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
9,285,312.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
9,285,312.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.4 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Americas Gold and Silver Corporation
(b)
Address of issuer's principal executive offices:
145 King Street West, Suite 2870, Toronto, Ontario, Canada M5H 1J8
Address or principal business office or, if none, residence:
NewGen Asset Management Limited
NewGen Holdco Limited
NewGen Equity Long/Short Fund
Commerce Court North, Suite 2900
King Street West, Box 405
Toronto, A6 M5L1G3
Canada
(c)
Citizenship:
NewGen Asset Management Limited - Other - Canada
NewGen Holdco Limited - Other - Canada
NewGen Equity Long/Short Fund - Cayman Islands
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP No.:
03062D100
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
All of the securities reported in this Schedule 13G are directly owned by advisory clients of NewGen Asset Management Limited. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock, no par value.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Please see Exhibit B attached hereto.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
NewGen Asset Management Limited
Signature:
By: /s/ David Dattels
Name/Title:
David Dattels / President of NewGen Asset Management Limited
Date:
11/14/2025
NewGen Holdco Limited
Signature:
By: /s/ David Dattels
Name/Title:
David Dattels / Authorized Signatory for NewGen Holdco Limited
Date:
11/14/2025
NewGen Equity Long/Short Fund
Signature:
By: /s/ David Dattels
Name/Title:
David Dattels / President of NewGen Asset Management Limited on behalf of NewGen Equity Long/Short Fund
Date:
11/14/2025
Exhibit Information
Material to be Filed as Exhibit:
Exhibit A - Joint Filing Agreement
Exhibit B - Control Person Identification
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