Cascada Silver Corp announced a non-brokered private placement of 57,692,308 common shares at a price of CAD 0.013 per Common Share for gross proceeds up to CAD 750,000 and 57,692,308 subscription receipts at a price of CAD 0.013 per Subscription Receipt for gross proceeds up to CAD 750,000, bringing total proceeds to CAD 1,500,000 on May 7, 2024. Each Subscription Receipt will entitle the holder thereof, without payment of any additional consideration and without further action on the part of the holder, upon the satisfaction of certain escrow release conditions to receive one Common Share. The escrow release conditions will include, but is not limited to, the Company obtaining shareholder approval for the issuance of Common Shares underlying the Subscription Receipts and the receipt of all required regulatory approvals.

The proceeds from the Subscription Receipts will be held in escrow until the escrow release conditions, noted above, have been satisfied or waived. The closing of the Offering is intended to occur on or around May 22, 2024, and is subject to approval of the Canadian Securities Exchange. The Common Shares and Subscription Receipts issued in the Offering are subject to a statutory hold period of four months and one day from the closing of the Offering.

The Company will pay a finder's fee in accordance with the policies of the Canadian Securities Exchange.