AbraSilver Resource (TSX:ABRA) has entered into an agreement for a C$45 million ($45.7 million) bought deal public offering to fund development of its 100% owned Diablillos Silver-Gold Project in Salta, Argentina.
A syndicate of underwriters, co-led by National Bank Financial, Beacon Securities, and Raymond James (NYSE:RJF), will purchase 3.06 million common shares at C$14.70 per share.
The underwriters hold an option, exercisable within 30 days post-closing, to purchase up to an additional 339,000 shares at the same price for gross proceeds of C$4.98 million to cover overallotments and market stabilisation.
Net proceeds will fund early works, long lead-time equipment procurement, and general corporate purposes for the Diablillos Project.
The public offering will be conducted across all Canadian provinces and territories except Québec, via a prospectus supplement to its short form base shelf prospectus dated 16 December 2025.
Shares will also be offered privately to qualified institutional buyers in the US and international jurisdictions.
Closing is expected on or about 29 July 2026.
AbraSilver recently completed a Feasibility Study highlighting Diablillos, located in Salta and Catamarca, as a high-margin precious metals project.
The company also holds an earn-in option and joint venture agreement with Teck (NYSE:TECK) on the La Coipita Project in San Juan, Argentina.
AbraSilver Resource is an explorer and developer focused on advancing silver and gold projects in Argentina.
Write to Paula Fabe at Mining.com.au
Images: AbraSilver Resource
