Highlander Silver Successfully Completes $9.2 Million Private Placement

Highlander Silver Corp. has announced the completion of a private placement, totaling approximately $9.2 million, involving notable investors including members of the Lundin family, Richard Warke, and Eric Sprott. This funding is poised to support the acquisition and further exploration of the San Luis gold-silver project in Peru.

The offering consisted of over 20 million common shares, priced at $0.45 each. Proceeds are earmarked for the acquisition of the San Luis project, scheduled to close in May 2024, and for general corporate purposes. Additionally, the investment included significant participation from company insiders which constituted a related party transaction under pertinent regulations.

Highlander Silver highlighted the usage of the funds for important developmental and exploratory work at the San Luis site, which involve geological mapping and drill target definition. Furthermore, the securities issued in this placement are subject to a four-month statutory holding period, with zero finder's fees paid.