VANCOUVER - Guanajuato Silver Company Ltd. (the 'Company' or 'GSilver') (TSXV: GSVR) (OTCQX: GSVRF) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement offering (the 'Offering') totalling C$9.52 million announced November 18, 2021, and expanded on November 29, 2021 and again on December 6, 2021.
The Company issued 2,402,634 units ('Units') for gross proceeds of C$1,321,449 in the second tranche for a total Offering of 17,304,306 Units for gross proceeds of C$9,517,368, each Unit consisting of one common share of the Company and one half (1/2) of a common share purchase warrant (each whole warrant, a 'Warrant'). Each Warrant entitles the holder to purchase an additional common share of the Company at a price of C$0.75 for a period of two years from of closing, subject to acceleration in certain events.
Chairman and CEO James Anderson said: 'Support from our long-term shareholders - both large and small - has made this private placement an oversubscribed success. This financing leaves GSilver in a stronger financial position, able to withstand the vagaries of the marketplace as well as any technical challenges during the continued ramp up of Mexico's newest precious metals operation.'
The net proceeds from the Offering will be used to fund the ongoing exploration, development, and expansion of the Company's El Cubo mine and mill complex and El Pinguico silver and gold project, both located near the city of Guanajuato, Mexico and for general corporate and working capital purposes. As of the date hereof, the Company's cash on hand is US$9.7 million and the Company holds 400 ounces of gold and 30,000 ounces of silver valued at approximately US$1.4 million.
The Company has paid total finder's fees in connection with the first and second tranches of the Offering of $134,770.15 cash and finder warrants to purchase up to 176,455 common shares of the Company on the same terms as the Warrants in accordance with the policies of the TSX Venture Exchange.
All securities issued in connection with the second tranche of the Offering are subject to a four month hold period expiring April 8, 2022.
About Guanajuato Silver Co. Ltd.
GSilver mines and processes silver and gold concentrate from its El Cubo mine and mill. The Company continues to delineate additional silver and gold resources through underground drilling at El Cubo and its nearby El Pinguico project. Both projects are located within 11km of the city of Guanajuato, which has an established 480-year mining history.
Contact:
JJ Jennex
Tel: +1 (604) 723-1433
Email: jjj@gsilver.com
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the 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 or for the account or benefit of a U.S. person (as defined in Regulation S 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.
GUANAJUATO SILVER COMPANY LTD. 
