Toronto – October 12, 2026 -- Highlander Silver Corp. (TSX: HSLV) has closed a non-brokered private placement with investor Eric Sprott, raising aggregate gross proceeds of US$40 million through the issuance of 8,060,226 common shares.
The shares were priced at C$6.80 each. The source states the proceeds in U.S. dollars and the share price in Canadian dollars.
Highlander Silver earmarks proceeds for mineral project advancement
The company plans to use the net proceeds to advance its mineral projects and for working capital and general corporate purposes. It gave no allocation by project or budget line.
Highlander Silver is primarily focused on the San Luis gold-silver project in Central Peru, adjacent to the past-producing Pierina mine.
San Luis hosts 8.4 million ounces of silver in Indicated resources
San Luis holds Indicated Mineral Resources of 356,000 ounces of gold at 24.4 g/t and 8.4 million ounces of silver at 579 g/t. According to S&P Global rankings cited by the company, the project is among the 10 highest-grade projects globally in both gold and silver categories.
The resource figures come from a technical report dated January 15, 2025, prepared by independent qualified person Martin Mount under National Instrument 43-101. The report is available on the company's SEDAR+ profile.
Sprott joins Augusta Group and Lundin family on shareholder register
Sprott is already a strategic shareholder in Highlander Silver, alongside the Lundin family. The Augusta Group is also a significant shareholder, with exit transactions totaling more than $4.7 billion.
The company's forward-looking statements reference a pending listing application for the NYSE American. The listing remains subject to regulatory approval and satisfaction of listing requirements.
The shares were not registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption.