Sec Form 4 Filing - Electrum Silver US LLC @ Gatos Silver, Inc. - 2021-07-19

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Electrum Silver US LLC
2. Issuer Name and Ticker or Trading Symbol
Gatos Silver, Inc. [ GATO]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
535 MADISON AVENUE, 12TH FLOOR,
3. Date of Earliest Transaction (MM/DD/YY)
07/19/2021
(Street)
NEW YORK, NY10022
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/19/2021 S 2,033,081 D $ 14 17,960,005 D ( 1 ) ( 2 )
Common Stock 07/19/2021 S 466,919 D $ 14 4,124,708 D ( 2 ) ( 3 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Electrum Silver US LLC
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
Electrum Silver US II LLC
C/O THE ELECTRUM GROUP LLC
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
Electrum Strategic Opportunities Fund II GP L.P.
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
ESOF II GP Ltd.
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
Electrum Group LLC
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
Electrum Strategic Management LLC
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
Electrum Strategic Opportunities Fund II L.P.
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
ELECTRUM GLOBAL HOLDINGS L.P.
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
TEG Global GP Ltd.
535 MADISON AVENUE, 12TH FLOOR
NEW YORK, NY10022
X
Signatures
The Electrum Group LLC By: /s/ Michael H. Williams, Senior Managing Director 07/20/2021
Signature of Reporting Person Date
Electrum Silver US LLC By: Electrum Strategic Management, its Manager, By: /s/ Andrew M. Shapiro, Managing Director 07/20/2021
Signature of Reporting Person Date
Electrum Silver US II LLC By: Electrum Strategic Management, its Manager, By: /s/ Andrew M. Shapiro, Managing Director 07/20/2021
Signature of Reporting Person Date
Electrum Strategic Management LLC By: /s/ Andrew M. Shapiro, Managing Director 07/20/2021
Signature of Reporting Person Date
Electrum Global Holdings L.P. By: TEG Global GP Ltd., its general partner, By: /s/ Andrew M. Shapiro, Director 07/20/2021
Signature of Reporting Person Date
TEG Global GP Ltd. By: /s/ Andrew M. Shapiro, Director 07/20/2021
Signature of Reporting Person Date
Electrum Strategic Opportunities Fund II L.P. By: Electrum Strategic Opportunities Fund II GP L.P., its general partner, By: ESOF II GP Ltd., its general partner, By: /s/ Michael H. Williams, Director 07/20/2021
Signature of Reporting Person Date
Electrum Strategic Opportunities Fund II GP L.P. By: ESOF II GP Ltd., its general partner, By: /s/ Michael H. Williams, Director 07/20/2021
Signature of Reporting Person Date
ESOF II GP Ltd. By: /s/ Michael H. Williams, Director 07/20/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )These securities are owned directly by Electrum Silver US LLC ("ESUS"). Electrum Strategic Management LLC ("ESM") is the manager of ESUS. ESM is wholly owned by Electrum Global Holdings L.P. ("Global Holdco"), and TEG Global GP Ltd. ("TEG Global") is the general partner of Global Holdco. The Electrum Group LLC ("TEG") acts as an investment advisor to Global Holdco. As a result, ESM, Global Holdco, TEG Global and TEG may be deemed to beneficially own shares of the Company's common stock held by ESUS.
( 2 )For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each reporting person disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that such reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
( 3 )These securities are owned directly by Electrum Silver US II LLC ("ESUS II"). Electrum Strategic Opportunities Fund II L.P. ("ESOF II") owns 99% of ESUS II, and ESM is the manager of ESUS II. ESM is wholly owned by Global Holdco, and TEG Global is the general partner of Global Holdco. The general partner of ESOF II is Electrum Strategic Opportunities Fund II GP L.P. ("ESOF II GP L.P."), and the general partner of ESOF II GP L.P. is ESOF II GP Ltd. ("ESOF II GP"). ESOF II GP is wholly owned by Global Holdco. TEG acts as an investment advisor to ESOF II. As a result, ESOF II, ESM, Global Holdco, TEG Global, ESOF II GP L.P. and ESOF II GP may be deemed to beneficially own shares of the Company's common stock held by ESUS II.

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