AbraSilver Resource (TSX:ABRA) has closed a bought deal public offering of 3.4 million common shares, raising gross proceeds of C$49.99 million ($51.15 million).
The company issued 3,401,000 shares at C$14.70 each, including the full exercise of the underwriters’ overallotment option.
National Bank Financial (TSX:NA), Beacon Securities, and Raymond James (NYSE:RJF) acted as co-bookrunners, with Scotia Capital (TSX:BNS) and TD Securities (TSX:TD) also participating in the syndicate.
AbraSilver says it plans to use the net proceeds to advance its wholly-owned Diablillos Silver-Gold Project in Argentina, including funding early works and procuring long lead-time equipment. The remaining funds will be allocated to general corporate purposes.
The company also expects to complete a concurrent private placement with Kinross Gold (TSX:K) around 31 July 2026.
Kinross plans to exercise its participation rights to acquire up to 139,241 shares at the same C$14.70 issue price, potentially providing AbraSilver with a further C$2.05 million in gross proceeds.
AbraSilver notes completion remains subject to customary documentation and regulatory approvals, including conditional approval from the Toronto Stock Exchange. Shares issued through the private placement will carry a four-month-plus-one-day hold period.
The public offering was conducted across Canada, excluding Québec under a prospectus supplement dated 24 July 2026. Shares were also offered in the US and other jurisdictions under applicable exemptions.
Diablillos spans the Salta and Catamarca provinces. AbraSilver recently completed a Definitive Feasibility Study for the silver-gold project.
AbraSilver also holds an earn-in option and joint venture agreement with Teck Resources (TSX:TECK.A/TECK.B) over the La Coipita Project in Argentina’s San Juan province.
Write to France Pinzon at Mining.com.au
Images: AbraSilver Resource
