On November 28, 2024, Aftermath Silver Ltd. closed the transaction. The company announced that it has now issued 22,222,222 units to be sold at a price of CAD 0.45 per Unit for total gross proceeds of up to CAD 9,999,999.9. The transaction will include participation from 2176423 Ontario Ltd. Each Unit will be comprised of one common share in the capital of the Company and one-half of one transferable Common Share purchase warrant. Each Warrant is exercisable by the holder thereof to acquire one additional Common Share for a period of 36 months from the date of issuance at a price of CAD 0.70 per Warrant Share.
All securities issued pursuant to Private Placement are subject to a hold period expiring on March 29, 2025. In connection with the Private Placement, the Company paid an aggregate cash commission of CAD 300,000 to certain finders. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired all 22,222,222 Units for CAD 0.45 per Unit or a total consideration of 9,999,999.9
