Guanajuato Silver Company Ltd. Increases Its Credit Facility to Support Expansion

Guanajuato Silver Company Ltd. (GSilver) announced an increase in its credit facility from US$7.5 million to US$13.3 million with Ocean Partners UK Ltd. This financial expansion will be used to repay a portion of existing debt and support GSilver's capital initiatives and working capital. The credit facility, repayable in monthly gold deliveries, demonstrates the strength of the relationship between GSilver and its primary trading partner, Ocean Partners.

The additional funds captured will allow the company to increase production during 2024 at its four silver mines in Mexico. The increase in the credit facility also coincides with the extension of concentrate sales agreements until 2028, highlighting the company's growth ambitions in the precious metals sector.

In addition to the expansion of the credit facility, GSilver completed a debt-for-equity transaction, issuing 1,658,912 common shares to settle debt of C$414,727.89. This approach demonstrates the financial flexibility and confidence of management in the long-term strategy of the company.