Vancouver, British Columbia–(Newsfile Corp. – March 27, 2026) – BP Silver Corp. (TSXV: BPAG) (OTCQB: BPSCF) (“BP Silver” or the “Company“) is pleased to announce that it has closed the initial tranche (the “Initial Tranche“) of its previously announced non-brokered private placement (the “Offering“), raising gross proceeds of C$8,558,000. Due to strong investor demand, the Company has increased the size of the Offering from aggregate gross proceeds of C$8,000,000 to aggregate gross proceeds of up to C$10,000,000.
“The successful closing of the initial tranche, combined with the upsizing of the Offering, represents a strong endorsement of our flagship Cosuño project and long-term vision,” said Tim Shearcroft, CEO of BP Silver. “With this additional capital, we are well-positioned to systematically advance exploration at Cosuño, including Phase II drilling, while also supporting potential exploration at our Titiri prospect and continuing to evaluate other high-potential opportunities. We thank our new and existing shareholders for their continued support.”
The upsized Offering will be conducted on the same terms as the Initial Tranche, and may be completed in one or more additional tranches, subject to applicable regulatory approvals.
Pursuant to the Initial Tranche, the Company issued 8,558,000 units (the “Units“) at a price of C$1.00 per unit for gross proceeds of C$8,558,000. Each Unit consists of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder thereof to acquire one common share (a “Warrant Share“) at a price of C$1.30 per Warrant Share for a period of two years from the date of issuance.
BP Silver intends to use the net proceeds of the Offering for exploration activities at the Company’s Cosuño Silver Project (“Cosuño“) in Bolivia, including geophysical surveys and a Phase II drill program, as well as potential exploration at its Titiri project. The proceeds will also support the evaluation of other high-potential opportunities and be used for general working capital purposes.
All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws. The Offering remains subject to final acceptance of the TSX Venture Exchange (the “Exchange“).
In connection with the Initial Tranche, the Company paid finder’s fees of C$157,920 and issued 157,920 finder’s warrants to eligible parties, where applicable, in accordance with applicable securities laws and exchange policies. Finder’s fees may also be payable in connection with future tranches of the Offering.
Rob McMorran, a director of the Company subscribed for 50,000 Units, contributing C$50,000 to the Initial Tranche. This subscription constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101“). However, the Company expects to be exempt from formal valuation and minority shareholder approval requirements under Sections 5.5(a) and 5.7(a) of MI 61-101, as his participation does not exceed 25% of the Company’s market capitalization.
The Offering remains open for additional subscriptions under the upsized amount, and the Company anticipates closing subsequent tranches in due course.
This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be unlawful, including the United States of America. The securities being offered as part of the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and accordingly may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to available exemptions therefrom.
About BP Silver Corp.
BP Silver Corp. is a Canadian exploration company focused on advancing high-grade silver projects in Bolivia. The Company’s flagship asset, the Cosuño Project, is strategically located in the prolific Bolivian silver belt, a region with a rich mining history and significant untapped discovery potential. With a strong technical team and a disciplined exploration strategy, BP Silver is positioned to unlock value for its shareholders through the discovery and development of major silver deposits.
For further information please contact:
Tim Shearcroft, Founder and Chief Executive Officer
604-307-7032
Info@BPSilverCorp.com
Cautionary Statement Regarding Forward Looking Information:
Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: future prices and the supply of silver and other precious and other metals; future demand for silver and other valuable metals; inability to raise the money necessary to incur the expenditures required to retain and advance the property; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; risks of the mineral exploration industry; delays in obtaining governmental approvals; and failure to obtain necessary regulatory or shareholder approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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