On October 9, 2024, Americas Gold and Silver Corporation (TSX: USA, NYSE American: USAS) entered into a definitive agreement to acquire the remaining 40% interest in the Galena Complex in Idaho from an affiliate of Eric Sprott, consolidating the joint venture. The transaction involved 170 million common shares valued at C$68 million and a US$10 million cash payment. The deal also includes monthly silver deliveries of 18,500 ounces for 36 months starting in January 2026.

In conjunction with the acquisition, Americas secured a bought deal private placement of subscription receipts to raise C$40 million, priced at C$0.40 per receipt. The proceeds will be used for the acquisition, debt repayment, and growth initiatives at Galena. Following the transaction, Paul Andre Huet will become Chairman and CEO, while Darren Blasutti will continue as President.

Americas was advised by Edgehill Advisory Ltd. and TD Securities Inc., with legal counsel from Torys LLP. Cormark Securities Inc. served as the financial advisor to Sprott, with Bennett Jones LLP as legal counsel. The acquisition is subject to shareholder and regulatory approvals, with closing anticipated by the end of 2024.