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Capitan Silver Corp. — Capital/Financing Update 2021
May 28, 2021
47940_rns_2021-05-28_f0a1a5a4-6e9b-498c-b4fa-8825e6f73093.pdf
Capital/Financing Update
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FORM 51–102F3 MATERIAL CHANGE REPORT
ITEM #1 NAME & ADDRESS OF COMPANY
Capitan Mining Inc. 800 West Pender Street, Suite 550 Vancouver, British Columbia V6C 2V6 (the “Company”)
ITEM #2 DATE OF MATERIAL CHANGE
May 28, 2021
ITEM #3 NEWS RELEASE
A news release announcing the material changes referred to in this report was disseminated May 7, 2021 through Newsfile Corp.
ITEM #4 SUMMARY OF MATERIAL CHANGE
The Company announced that it has closed a non-brokered private placement and issued 16,000,000 common shares at a price of $0.20 per common share to raise aggregate proceeds of $3,200,000.00.
ITEM #5 FULL DESCRIPTION OF MATERIAL CHANGE
The Company announced that it has closed its non-brokered equity financing previously announced on April 6, 2021 (the "Private Placement"). Pursuant to the Private Placement, Capitan issued 16,000,000 common shares at a price of C$0.20 per Common Share (the "Issue Price") for gross proceeds of C$3,200,000. There were no finders' fees paid on the Private Placement.
The proceeds received by the Company will be primarily used to advance exploration and corporate development activities at Capitan's 100%-owned Peñoles Project located in Durango, Mexico, as well as for working capital and general corporate purposes.
All securities issued will be subject to a four-month hold period expiring on September 8, 2021.
ITEM # 6 RELIANCE ON SUBSECTION 7.1(2) OF NATIONAL INSTRUMENT 51– 102
N/A
ITEM #7 OMITTED INFORMATION
N/A
ITEM #8 EXECUTIVE OFFICER
Alberto Orozco Chief Executive Officer Telephone: 778.327.6671 ITEM #9 DATE OF REPORT
DATED at Vancouver, BC, this 28[th] of May, 2021