Guanajuato Silver Company Ltd announced a brokered, best-efforts private placement to issue minimum of 30,000,000 units and maximum of 43,125,000 at an issue price of CAD 0.20 for the gross proceeds of CAD 6,000,000 and maximum of CAD 8,625,000 on April 25, 2024. Each Unit will consist of one common share and one Common Share purchase warrant. Each Warrant will entitle the holder to purchase an additional Common Share at an exercise price of CAD 0.30 for a period of 24 months following the closing of the Offering.

The Offering is anticipated to close on or about the week of May 6, 2024, or such later date as the Company and the Agents may determine. The Closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The Agents will receive a cash commission of 6% of the aggregate gross proceeds of the Offering and such number of broker warrants as is equal to 6% of the number of Units sold under the Offering.

Each Broker Warrant entitles the holder to purchase one Common Share at an exercise price equal to the Offering Price for a period of 24 months following the Closing.