Santacruz Silver Completes Successful Promissory Note Offering in Bolivia

Santacruz Silver Mining Ltd.’s Bolivian subsidiary, San Lucas S.A., has sold out its first promissory note offering, raising 70 million Bolivian Bolivianos in just 15 minutes. The CEO, Arturo Préstamo, acknowledged the strong demand from local investors, highlighting the company’s commitment to Bolivia. The notes offer a 6.25% interest rate and mature on February 15, 2026, with future offerings planned.

Santacruz Silver Mining Ltd. (TSX-V: SCZ, OTC: SZSMF) has recently declared that its fully owned Bolivian subsidiary, San Lucas S.A., has successfully concluded its inaugural promissory note offering under the San Lucas Promissory Notes Issuance Program. This offering raised an impressive 70 million Bolivian Bolivianos and was entirely sold out in a mere 15 minutes, demonstrating robust interest from local investors.

Arturo Préstamo, CEO of Santacruz Silver, emphasized the significance of this successful issuance, stating that the strong demand and oversubscription reflect the Bolivian investment community’s confidence in the company’s operations and its long-term vision. He further remarked that this accomplishment underscores Santacruz Silver’s ongoing commitment to Bolivia, where the company continues to invest and grow, thus creating value for stakeholders and contributing positively to the local mining sector and economic development.

The promissory notes, which were traded on the Bolivian Stock Market (Bolsa Boliviana de Valores), offer an interest rate of 6.25% with a maturity date set for February 15, 2026. The total amount authorized for this program is 140 million Bolivian Bolivianos, with further offerings expected in the near future.

In summary, Santacruz Silver Mining Ltd. has successfully launched its first promissory note offering through its Bolivian subsidiary, attracting significant local investor interest. This successful issuance, with an oversubscription that sold out in just 15 minutes, reflects investor confidence in the company’s projects and future plans in Bolivia. The positive feedback signals a continued commitment to fostering growth within Bolivia’s mining sector.

Original Source: www.proactiveinvestors.com