07:23 AM EST, 11/11/2024 (MT Newswires) -- Apollo Silver ( APGOF ) , which lost more than 8% last Friday, on Monday said it has raised $13.5 million in its non-brokered private placement, which has now closed.

The company issued 67.5 million shares at $0.20 each.

Mining magnate Eric Sprott subscribed for $2 million of the offering, the company said.

Proceeds will be used to advance the Calico Silver Project in San Bernardino, California, and the newly optioned Cinco de Mayo Silver Project in Chihuahua, Mexico.