Capitan Silver raised C$23 million to fund exploration at its Cruz de Plata project, with shares issued at C$2.03 each.

Capitan Silver Corp. has closed a C$23 million bought deal private placement, issuing 11.3 million shares at C$2.03 each, with underwriters’ options fully exercised. The financing, led by Stifel Canada and including TD Securities, BMO Capital Markets, and Canaccord Genuity, will fund exploration at the Cruz de Plata gold-silver project, along with working capital and corporate expenses. Proceeds are exempt from hold periods except for insider shares, which are restricted until April 18, 2026. The deal included U.S. and international private placements under applicable exemptions, with underwriters receiving C$1.37 million in commissions. Insiders subscribed for 1.96 million shares under the same terms as other investors, qualifying for an exemption under MI 61-101. A material change report was not filed in time due to timing constraints. Final TSX Venture Exchange approval is pending.