Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) said on Monday its Bolivian unit San Lucas SA has raised 70 million Bolivian Bolivianos ($10.1 million) through a second promissory note issuance.
The deal lifts total proceeds from the San Lucas Promissory Notes Issuance Program to 140 million Bolivian Bolivianos.
The notes, traded on the Bolivian Stock Market, carry a 7% interest rate, mature in June 2026, and are unsecured, the company said.
The first tranche of 70 million Bolivian Bolivianos closed in February. The program’s total authorized amount is 140 million Bolivian Bolivianos.
“(W)e once again received strong support from the Bolivian investment community, demonstrating continued confidence in Santacruz's operations and long-term vision,” Santacruz CEO Arturo Préstamo said in a statement.
“With the majority of our operations based in Bolivia, the offering reinforces our deep commitment to the country, where we continue to invest, expand and contribute meaningfully to the growth of the Bolivian mining sector, its communities and broader economic development.”