Apollo Amends Warrant Terms

VANCOUVER, British Columbia, July 05, 2023 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that on July 4, 2023 it held its previously announced (Note 1) special meeting of Warrant holders to approve by extraordinary resolution proposed amendments to the terms of the 35,266,665 warrants issued to subscribers under the Company’s private placement that closed on July 6, 2021 (the “Warrants”). Pursuant to the approved amendments, the expiration date of the Warrants has been extended from July 8, 2023 to July 8, 2026 and the exercise price for the third, fourth and fifth year of the amended term has been set at $0.79 (the “Amended Terms”). A total of 17,471,282 Warrants were voted in person or by proxy, representing 49.54% of the outstanding Warrants, with 13,487,783 (77.2%) voting in favour of the Amended Terms and 3,983,499 (22.8%) opposed. The TSX Venture Exchange has granted final acceptance of the Amended Terms as of July 4, 2023.

Please visit www.apollosilver.com for further information.

NOTE 1: For further details, including the voting thresholds required for extraordinary resolutions, please refer to the previous news release: “Apollo Applies to Amend Warrant Terms”, May 23, 2023 (Vancouver): https://apollosilver.com/apollo-applies-to-amend-warrant-terms/

ON BEHALF OF THE BOARD OF DIRECTORS

Tom Peregoodoff
Chief Executive Officer

For further information, please contact:

Tom Peregoodoff
Chief Executive Officer
Telephone: [phone]
[e-mail]

About Apollo Silver Corp.

Apollo Silver Corp. has assembled an experienced and technically strong leadership team who have joined to advance world class precious metals projects in tier-one jurisdictions. The Company is focused on advancing its portfolio of two significant silver exploration and resource development projects, the Calico Silver Project, in San Bernardino County, California and Silver District Project in La Paz County, Arizona.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include the application for repricing and an extension to the expiry time for certain common share purchase warrants.