08:42 AM EDT, 09/24/2025 (MT Newswires) -- Zacatecas Silver ( ZCTSF ) , which rose 13%, to 52-week highs Tuesday, said overnight, it closed the first tranche of its previously announced private placement financing for $2.3 million.

The company had issued 38.4-million units at $0.06 apiece and now anticipates it will complete the final tranche by September 29. Each unit consists of one common share and one two-year warrant, with each warrant exercisable at $0.10 per share.

It added that it has the right to accelerate the expiry date if the volume weighted average price of the shares on the principal exchange or market on which the shares trade is equal to or greater than $0.20 for 20 consecutive trading days. Proceeds will be used to fund a drilling campaign on the Zacatecas Silver Project, strategic initiatives and working capital needs.

A holding corporation of Zacatecas chief executive officer Eric Vanderleeuw, subscribed for 500,000 units for $30,000.

Shares of the company closed up $0.015 to $0.125 on the TSX Venture Exchange Tuesday.