02:53 PM EDT, 05/02/2025 (MT Newswires) -- Argenta Silver ( AGAGF ) on Friday announced that it closed a non-brokered private placement with IFIS for total aggregate gross proceeds of C$5 million.

Through the private placement, IFIS, an entity controlled by Eduardo Elsztain, acquired an aggregate of 25 million common shares and 5.2 million share purchase warrants of the company.

A statement noted that the issued warrants are exercisable at C$0.26 per share for a period of five years from the date of grant. Administrative fees equal to 4% of the gross proceeds will be paid in its shares to certain consultants, said the company.

The company also entered into an investor rights agreement with IFIS dated April 28, whereby, subject to certain conditions, including time and ownership thresholds, IFIS will have certain rights, including the right to nominate a member of the board of the company and participate in future equity issuances to maintain its ownership in the company. With respect to this, the company said it appointed Nicolas Bendersky to its board.

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