New Risk • Oct 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 100% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (35% average weekly change). Negative equity (-CA$460k). Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$10.2m market cap, or US$7.33m). Announcement • Oct 17
Masivo Silver Corp. announced that it has received CAD 2 million in funding On October 16, 2025, the company has completed the transaction. The company has issued 24,921,666 units at an issue price of CAD 0.06 for the proceeds of CAD 1,495,299.96. The company paid a total of CAD 45,268 in cash, issued 800,000 shares and issued 2,043,083 finder warrants pursuant to the policies of the TSX Venture Exchange. New Risk • Oct 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$202k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$202k free cash flow). Share price has been highly volatile over the past 3 months (33% average weekly change). Negative equity (-CA$460k). Revenue is less than US$1m. Market cap is less than US$10m (CA$7.36m market cap, or US$5.28m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). 
