Titiminas Silver Goes Public with $25M War Chest for Peruvian Project

VANCOUVER, BC – January 28, 2026 – Junior explorer Titiminas Silver Inc. is set to make its public market debut, armed with a C$25 million financing package and a definitive agreement to merge with a publicly reporting shell company. The deal, announced today, positions the company to aggressively advance its high-grade Madre Sierra silver project, a past-producing mine located in the mineral-rich landscape of central Peru.

The transaction signifies a major step for the private Vancouver-based firm, providing it with both the capital and the public platform necessary to fast-track exploration and development. The move is underscored by the participation of notable precious metals billionaire Eric Sprott, whose intended investment lends significant credibility to the venture and signals strong confidence in the project's potential.

A Strategic Path to Public Markets

Rather than a traditional initial public offering (IPO), Titiminas has opted for a more streamlined route to the public markets through a business combination with 1317202 B.C. Ltd. ("131"), a reporting issuer established to identify and acquire promising business assets. The complex transaction, structured as a "three-cornered amalgamation," will see a subsidiary of 131 merge with Titiminas.

Upon completion, 131 will be renamed Titiminas Silver Inc. and its shares will be listed on the TSX Venture Exchange (TSXV). This strategic maneuver, often referred to as a reverse takeover, allows an operating company like Titiminas to gain a public listing by merging with a pre-existing, albeit non-trading, public entity. It's a well-trodden path for junior resource companies seeking to access the deeper pools of capital available on public exchanges without the lengthy and often more costly IPO process.

The definitive agreement, dated January 23, 2026, lays out a clear path forward, subject to standard conditions including shareholder and regulatory approvals. For shareholders of the private Titiminas, their shares will be exchanged on a one-for-one basis for shares in the newly listed public company, effectively aligning all stakeholders behind the future of the resulting issuer.

Fueling Growth with a $25 Million Bet on Silver

Concurrent with the merger announcement, Titiminas has engaged Canaccord Genuity Corp. to lead a "best efforts" private placement to raise approximately C$25 million. The financing involves the sale of subscription receipts at a price of C$1.75 each. These receipts will automatically convert into common shares of the company upon the successful closing of the business combination.

The capital injection is critical to the company's ambitious plans. The gross proceeds are earmarked for a multi-pronged growth strategy: undertaking extensive exploration programs at the Madre Sierra project, actively pursuing acquisition opportunities for other mineral properties in Peru, and funding general corporate and working capital needs.

The participation of existing management and, most notably, Eric Sprott, is a powerful endorsement. Sprott has built a reputation as a savvy investor in the junior mining space, with his backing often acting as a catalyst that attracts wider market interest. His involvement suggests a strong belief in both the project's geology and the management team's ability to execute its strategy. The financing also includes an option for the agents to sell an additional 15% in subscription receipts, potentially increasing the total funds raised.

Reviving Madre Sierra: A New Chapter for a Historic Peruvian Mine

The centerpiece of Titiminas's strategy is the Madre Sierra silver project. The company holds an exclusive option to acquire the project, which encompasses a previously producing silver mine already permitted for small-scale mining activities. This existing infrastructure and permitting provide a significant advantage, potentially reducing timelines and initial capital hurdles.

Titiminas's plan is not merely to restart old operations but to redefine the project's scope. The company intends to use modern exploration techniques to re-drill the property, with the goal of expanding upon a historical resource estimate and ultimately fast-tracking the project toward large-scale development and production. This approach taps into a common theme in mature mining jurisdictions like Peru, where modern technology and geological models can unlock new potential in old mining camps.

Peru is a global mining powerhouse and one of the world's top silver producers. Operating in the country offers access to a skilled labor force and a well-established mining services industry. However, it also presents challenges, including a dynamic political and regulatory environment and the critical need to secure a "social license to operate" from local communities. Success for the new Titiminas will depend as much on navigating these socio-environmental factors as it will on geological success.

Experienced Leadership for a New Era

Guiding the newly capitalized company will be a management team with deep experience in Latin American resource development and public company finance. Luis Goyzueta, a natural resources entrepreneur with nearly three decades of experience in Peru, will serve as President and CEO. His background includes co-founding several successful resource ventures in the region.

He is joined by Christopher Richards as Chief Financial Officer, a seasoned executive with over 20 years in the mining industry. Richards brings extensive experience from senior financial roles at publicly listed companies with operations across the Americas, including stints at Great Panther Mining and NovaGold Resources. This blend of on-the-ground operational expertise and capital markets acumen will be crucial as the company navigates its transition to a public entity and executes its exploration plans.

With financing in place and a clear path to a public listing, Titiminas Silver is poised to emerge as a new and noteworthy player in the junior silver sector. The coming months will be critical as the company works to close the transaction, secure its TSXV listing, and begin deploying capital into the ground at Madre Sierra, all under the watchful eye of a market eager for new silver development stories.