The shares issued by Apollo to Stronghold shareholders are subject to various seed share resale restrictions imposed by the TSXV. With the close of the Transaction, Apollo has issued a total of 40 M common shares to Stronghold shareholders at a share exchange ratio of one Apollo common share for one Stronghold common share or warrant (the “ Exchange Ratio”). I very much look forward to working with all stakeholders as we deliver on our stated objective of creating an intermediate US focused pure silver company and realize the value of our portfolio of high-quality advanced silver assets.” I also wish to acknowledge the tremendous support we received from current shareholders and welcome the new institutional backers who strongly support the financing.
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It is the culmination of the hard work of a number of people whom I wish to thank. Tom Peregoodoff, CEO, commented, “I am very pleased to announce the unconditional closing of the Apollo-Stronghold amalgamation. In addition, the assets are silver-barite systems with 10-12% barite, a mineral deemed critical to the US economy and sourced primarily through importation, with China being the major supplier.Ĭommenting on today’s announcement, Apollo Chairman, Andrew Bowering said, “The closing of this amalgamation is a major achievement and the realization of a transformation step in our vision to become the next mid-tier US silver producer.” The Apollo silver assets represent some of the largest, undeveloped, advanced silver projects in the US. As announced on July 7, 2021, the successful closing of a brokered $52.9 M financing provides significant capital to advance the Company.Over 100 million (“M”) ounces of silver in one of three historic resources ( 1).A US based pure silver opportunity with three advanced assets in mining friendly regions of Southeast California and Arizona.
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With the closing of the Transaction Apollo has become a leading US focused silver exploration and development company. Apollo, through its 100% owned Stronghold subsidiary now holds rights to three large scale silver projects: Waterloo and Langtry in California and The Silver District in Arizona. (“ Apollo” or the “ Company") (TSX.V: APGO) is pleased to announce it has closed the amalgamation transaction and has acquired all the issued and outstanding shares (the “ Transaction”) of privately held Stronghold Silver Corp. VANCOUVER, British Columbia, J(GLOBE NEWSWIRE) - Apollo Gold & Silver Corp.