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TORONTO, March 20, 2024 (GLOBE NEWSWIRE) -- Americas Gold and Silver Corporation (TSX:USA, NYSE:USAS) (the "Company") is pleased to announce that it has entered into an amending agreement with Eight Capital, as agent, to upsize the previously announced private placement. In connection with the upsized offering, the Company will issue up to 25,000,000 units of the Company (the "Units") at a price of C$0.30 per Unit (the "Offering") for aggregate gross proceeds of up to C$7,500,000. In addition, the Company and Eight Capital have agreed that Eight Capital shall be granted an option to sell an additional 1,000,000 Units for additional gross proceeds of up to C$300,000.
Each Unit will be comprised of one common share of the Company (each, a "Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at an exercise price of C$0.40 per Warrant Share for a period of 36 months following the closing of the Offering.
The net proceeds of the Offering will be used for working capital requirements at the Company's Cosalá Operations and Galena Complex, in order to transition to additional silver-copper ore production at the Company's operations in the U.S. and Mexico, and for general and administrative purposes.
The Offering is expected to close on or about March 27, 2024, or such other date as the Company and Eight Capital may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional listing approval of ...