Tier One Silver Inc. has engaged 3L Capital Inc. as lead agent to raise between C$12 million and C$17 million through a best efforts private placement of common equity units priced at C$0.07 each.

The financing will fund the company's entry into Ecuador via the conditional acquisition of a 70% control share purchase option in Compañía Minera Ruta de Cobre S.A., which holds the Ruta de Cobre copper-molybdenum project in Azuay Province. Tier One Silver plans to allocate US$1.8 million of the minimum net proceeds toward the initial purchase payment for the project, with the remaining funds used to establish Ecuadoran exploration operations, provide working capital, and launch the first phase of exploration following the closing of the financing and acquisition. Amounts raised above the C$12 million minimum will accelerate exploration and provide additional working capital.

Each unit consists of one common share and one full purchase warrant exercisable at C$0.15 for three years from the completion of the offering, which is targeted for early September 2026. The offering includes an over-allotment option for agents to sell up to an additional C$8.5 million in units, which would bring total potential gross proceeds to C$25.5 million if exercised in full. Closing of the financing is conditional on the concurrent execution and closing of the Ruta de Cobre share purchase, alongside customary conditions including TSX Venture Exchange approval.

Upon closing, Ruta de Cobre will become the company's flagship asset, sitting alongside its Peruvian high-grade Curibaya project. The surrounding district has also seen activity from nearby explorer Trinity One Metals Ltd., which reported historical high-grade silver intercepts—including 2.60 metres at 1,240 g/t silver—at its Silver-1 Mine in July 2026.

Read the full announcement: Tier One Silver Announces C$12 - C$17 Million Financing to Fund Ruta de Cobre Acquisition and Exploration