08:29 AM EDT, 08/11/2025 (MT Newswires) -- Santacruz Silver Mining ( SCZMF ) , which lost more than 4% from near 52 week highs last Friday, announced Monday that its wholly owned subsidiary in Bolivia, San Lucas S.A., completed the second offering of promissory notes, under its San Lucas Promissory Notes Issuance Program on Friday, August 8, 2025.

According to a statement, the offering generated gross proceeds of 70 million Bolivian Boliviano. The notes have a 7.00% interest rate, a maturity date of June 15, 2026 and are unsecured. With the first tranche of 70 million Bolivian Boliviano closed in February 2025, this issuance brings the total raised to 140 million Bolivian Boliviano.

Arturo Prestamo, Executive Chairman and CEO of Santacruz, said, "We are pleased to have successfully completed the second offering under the San Lucas Promissory Notes Issuance Program, which we once again received strong support from the Bolivian investment community, demonstrating continued confidence in Santacruz's operations and long-term vision. With the majority of our operations based in Bolivia, the Offering reinforces our deep commitment to the country, where we continue to invest, expand and contribute meaningfully to the growth of the Bolivian mining sector, its communities and broader economic development. It also marks a key step in our strategy to diversify funding sources in line with our efficient treasury management approach, which further strengthens Santacruz's capital structure, supporting ongoing efforts to deliver long-term value for our shareholders."