Mining Giants Secure Multi-Million Dollar Private Placements for Operational Growth

Mining companies Defiance Silver and Marimaca Copper have announced significant private placements to bolster their operations. Defiance Silver aims to raise up to C$8 million through a brokered offering, while Marimaca Copper plans a US$17.7 million non-brokered placement, primarily backed by existing insider shareholders and a new institutional investor. These funds are earmarked for exploration, project advancement, and general corporate purposes.

Defiance Silver's C$8 Million Brokered Offering

Defiance Silver Corp. has entered into an agreement with Red Cloud Securities Inc. for a "best efforts" private placement. The offering involves the sale of up to 32,000,000 units at C$0.25 per unit, aiming for gross proceeds of up to C$8,000,000. Each unit comprises one common share and one-half of one common share purchase warrant.

• Use of Proceeds: The net proceeds are intended for:
• Key Details:

Marimaca Copper's US$17.7 Million Private Placement

Marimaca Copper Corp. announced a non-brokered private placement of 5,311,416 common shares at C$4.60 per share, targeting gross proceeds of approximately US$17,700,000 (C$24,433,000). The placement is primarily subscribed by existing insider shareholders, Assore International Holdings Limited (AIH) and Ithaki Limited, along with an additional institutional investor.

• Investor Contributions:
• Use of Proceeds: The net proceeds will be utilized for:
• Key Details:

Strategic Importance of the Placements

Both companies emphasize the strategic importance of these capital raises. For Marimaca Copper, the continued support from cornerstone shareholders and the introduction of new blue-chip funds underscore confidence in the Marimaca Project's long-term potential. Defiance Silver's offering will enable critical exploration and resource estimation work, advancing its Mexican projects. These financings are crucial for funding ongoing operations and development initiatives in the mining sector.

Sources

• Marimaca Copper Announces Proposed US$17.7 Million Non-Brokered Private Placement, Junior Mining Network.
• Defiance Silver Announces Brokered LIFE Offering for Gross Proceeds of up to C$8 Million, Junior Mining Network.