• Apollo (APGO) has closed its acquisition of Stronghold Silver, creating a significant U.S. silver exploration and development company
  • The company issued 40 million common shares to Stronghold shareholders for the acquisition
  • Apollo now holds rights to three large-scale silver projects totalling over 175 million ounces of silver
  • Apollo Gold and Silver advances world-class precious metals deposits in tier-one jurisdictions
  • Apollo (APGO) is up by 10 per cent and is currently trading at $1.10 per share

Apollo (APGO) has closed its acquisition of Stronghold Silver, creating a significant U.S. silver exploration and development company.

Apollo, through its Stronghold subsidiary, now holds rights to three large-scale silver projects totalling over 175 million ounces of silver: Waterloo and Langtry in California and Silver District in Arizona. 

Transaction

Apollo issued 40 million common shares to Stronghold shareholders at a ratio of one Apollo share for one Stronghold common share or warrant.

Apollo will also be assuming 5,010,638 Stronghold warrants, which are exercisable into Apollo common shares priced at US$0.20.

James Hynes, the former CEO of Stronghold, has been appointed as a director of the company.

 Waterloo Project

The Waterloo and Langtry projects are located in the historic mining district of Calico in San Bernardino County, California.

Stronghold has the right to purchase a 100 per cent interest in Waterloo for US$25 million.

Vendor Pan American retains a 2 per cent net smelter royalty on any future production.

Apollo will issue US$6 million in cash or shares to Pan American at the latter’s discretion.

Langtry Project

Stronghold holds the right to acquire a 100 per cent interest on a portion of the Langtry Project for US$1 million on or before December 21, 2025.

Stronghold holds a similar right for a separate portion of the project for the greater of US$5.2 million or the spot price of 220,000 troy ounces of silver on or before December 24, 2025.

Silver District Project

The district-scale property is located in the heart of the historic Silver District in southwest Arizona. It covers over 2,000 acres and includes mineral title over three major epithermal vein structures with a collective strike length of 13 km. 

Stronghold holds the right to acquire a 100 per cent interest in the project for US$1,970,000 on or before January 22, 2026.  

Tom Peregoodoff, Apollo’s CEO, commented,

“I am very pleased to announce the unconditional closing of the Apollo-Stronghold amalgamation. It is the culmination of the hard work of a number of people whom I wish to thank. I also wish to acknowledge the tremendous support we received from current shareholders and welcome the new institutional backers who strongly support the financing. I very much look forward to working with all stakeholders as we deliver on our stated objective of creating an intermediate U.S. focused pure silver company and realize the value of our portfolio of high-quality advanced silver assets.”

Apollo Gold and Silver advances world-class precious metals deposits in tier-one jurisdictions.

Apollo (APGO) is up by 10 per cent and is currently trading at $1.10 per share as of 9:55 am ET.

More From The Market Online

Activist investor seeks to overhaul WonderFi board

KAOS Capital, an activist investor and major WonderFi (TSX:WNDR) shareholder, plans to propose five nominations to the crypto stock's board.

Bombardier’s new record-setting 7500 jet lands in Asia

Bombardier’s (TSX:BBD.A) new Global 7500 business aircraft is touring Asia this week with stops in Hong Kong, Beijing and Seoul.

Avicanna launches 10% CBD (THC free) formula in Canada

Avicanna (TSX:AVCN) launches RHO Phyto Micro Drop 100, a 10 per cent CBD (THC free), proprietary oral formulation in Canada.