Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (Frankfurt: 6MR1) announces it has closed its non-brokered flow-through private placement with gross proceeds raised of CDN$2,500,160. Under the Offering, the Company issued 5,208,667 flow-through units at a price of CDN$0.48 per FT Unit. Each FT Unit is comprised of one common share in the capital of the Company that qualifies as a “flow-through share” for the purposes of the Income Tax Act (Canada) and one-half of one non-transferable common share purchase warrant. Each Warrant entitles the holder to purchase one non-flow-through common share in the capital of the Company at price of CDN$0.64 per Common Share until June 19, 2026. The proceeds from the Offering will be used for expenditures that qualify as Canadian Exploration Expenses, within the meaning of the Income Tax Act (Canada), to carry out exploration programs on the Company’s Canadian properties.

In connection with the Offering, the Company paid finder’s fees to qualified non-related parties, in accordance with the policies of the Canadian Securities Exchange, including a cash commission totalling CDN$34,809.61, equal to 6% of proceeds raised, and an equity commission valued at CDN$115,200, equal to 6% of proceeds raised, settled by the issuance of 267,907 Common Shares at a deemed price per share of CDN$0.43.

All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring October 20, 2024, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.

About Kuya Silver Corporation

Kuya Silver is a Canadian-based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.