# EDGAR Filing Document

**Accession Number:** 0001845012
**File Stem:** 0000919574-25-006881
**Filing Date:** 2025-11
**Character Count:** 13717
**Document Hash:** c7e6054831da46509a221702844c15eb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-006881.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0000919574-25-006881

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Americas Gold & Silver Corp
- **CENTRAL INDEX KEY:** 0001286973
- **STANDARD INDUSTRIAL CLASSIFICATION:** METAL MINING [1000]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** Z4

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-85435
- **FILM NUMBER:** 251483126

**BUSINESS ADDRESS:**
- **STREET 1:** 145 KING ST. W.
- **STREET 2:** SUITE 2870
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5H 1J8
- **BUSINESS PHONE:** 604-678-9639

**MAIL ADDRESS:**
- **STREET 1:** 145 KING ST. W.
- **STREET 2:** SUITE 2870
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5H 1J8

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Americas Silver Corp
- **DATE OF NAME CHANGE:** 20150910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCORPIO MINING CORP
- **DATE OF NAME CHANGE:** 20040414
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NewGen Asset Management Ltd
- **CENTRAL INDEX KEY:** 0001845012

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** COMMERCE COURT NORTH, SUITE 2900
- **STREET 2:** 25 KING STREET WEST, BOX 405
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5L1G3
- **BUSINESS PHONE:** 416-941-9111

**MAIL ADDRESS:**
- **STREET 1:** COMMERCE COURT NORTH, SUITE 2900
- **STREET 2:** 25 KING STREET WEST, BOX 405
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5L1G3

## Ex-99

<u>Exhibit A</u>

<u>JOINT FILING AGREEMENT</u>

The undersigned agree that this Schedule 13G Amendment No. 1 dated November 14, 2025 relating to the Common Shares, no par value, of Americas Gold and Silver Corporation shall be filed on behalf of the undersigned.

---

| |
|:---|
| &nbsp;&nbsp; NEWGEN ASSET MANAGEMENT LIMITED<br>By: /s/ David Dattels |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: David Dattels |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: President of NewGen Asset Management Limited |

---

---

| |
|:---|
| &nbsp;&nbsp; NEWGEN HOLDCO LIMITED<br>By: /s/ David Dattels |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: David Dattels |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Authorized Signatory for NewGen Holdco Limited |

---

---

| |
|:---|
| &nbsp;&nbsp; NEWGEN EQUITY LONG/SHORT FUND<br>By: /s/ David Dattels |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: David Dattels |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: President of NewGen Asset Management Limited on behalf of NewGen Equity Long/Short Fund |

---

## Ex-99

<u>Exhibit B</u>

<u>CONTROL PERSON IDENTIFICATION</u>

NewGen Asset Management Limited is the relevant entity for which NewGen Holdco Limited may be considered a control person.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Americas Gold and Silver Corporation

**Title of Class of Securities:** Common Shares, no par value

**CUSIP Number:** 03062D100

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>NewGen Asset Management Limited | Names of Reporting Persons<br>NewGen Asset Management Limited |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>A6 | Citizenship or Place of Organization<br>A6 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>9285312.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>9285312.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9285312.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9285312.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.4% | Percent of Class Represented by Amount in Row (9)<br>3.4% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, CO | Type of Reporting Person (See Instructions)<br>IA, CO |

---

| 1. | Names of Reporting Persons<br>NewGen Holdco Limited | Names of Reporting Persons<br>NewGen Holdco Limited |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>A6 | Citizenship or Place of Organization<br>A6 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>9285312.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>9285312.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9285312.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9285312.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.4% | Percent of Class Represented by Amount in Row (9)<br>3.4% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, OO | Type of Reporting Person (See Instructions)<br>HC, OO |

---

| 1. | Names of Reporting Persons<br>NewGen Equity Long/Short Fund | Names of Reporting Persons<br>NewGen Equity Long/Short Fund |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>9285312.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>9285312.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9285312.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9285312.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.4% | Percent of Class Represented by Amount in Row (9)<br>3.4% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

---

**Item 1(a). Name of Issuer:**
Americas Gold and Silver Corporation

**Item 1(b). Address of Issuer's Principal Executive Offices:**
145 King Street West, Suite 2870, Toronto, Ontario, Canada M5H 1J8

**Item 2(a). Name of Person Filing:**
NewGen Asset Management Limited
NewGen Holdco Limited
NewGen Equity Long/Short Fund

**Item 2(b). Address of Principal Business Office:**
NewGen Asset Management Limited
NewGen Holdco Limited
NewGen Equity Long/Short Fund

Commerce Court North, Suite 2900
King Street West, Box 405
Toronto, A6 M5L1G3
Canada

**Item 2(c). Citizenship:**
NewGen Asset Management Limited - Other - Canada
NewGen Holdco Limited - Other - Canada
NewGen Equity Long/Short Fund - Cayman Islands

**Item 2(d). Title of Class of Securities:**
Common Shares, no par value

**Item 2(e). CUSIP Number:**
03062D100

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

NewGen Asset Management Limited - 9,285,312
NewGen Holdco Limited - 9,285,312
NewGen Equity Long/Short Fund - 9,285,312

**(b) Percent of class:**

NewGen Asset Management Limited - 3.4%
NewGen Holdco Limited - 3.4%
NewGen Equity Long/Short Fund - 3.4%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

NewGen Asset Management Limited - 0
NewGen Holdco Limited - 0
NewGen Equity Long/Short Fund - 0

**(ii) Shared power to vote or to direct the vote:**

NewGen Asset Management Limited - 9,285,312
NewGen Holdco Limited - 9,285,312
NewGen Equity Long/Short Fund - 9,285,312

**(iii) Sole power to dispose or to direct the disposition of:**

NewGen Asset Management Limited - 0
NewGen Holdco Limited - 0
NewGen Equity Long/Short Fund - 0

**(iv) Shared power to dispose or to direct the disposition of:**

NewGen Asset Management Limited - 9,285,312
NewGen Holdco Limited - 9,285,312
NewGen Equity Long/Short Fund - 9,285,312

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

All of the securities reported in this Schedule 13G are directly owned by advisory clients of NewGen Asset Management Limited. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock, no par value.

**Item 7. Identification and Classification of the Subsidiary**

Please see Exhibit B attached hereto.

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**NewGen Asset Management Limited**

**Date:** 11/14/2025

**By:** By: /s/ David Dattels

**Name & Title:** David Dattels / President of NewGen Asset Management Limited

**NewGen Holdco Limited**

**Date:** 11/14/2025

**By:** By: /s/ David Dattels

**Name & Title:** David Dattels / Authorized Signatory for NewGen Holdco Limited

**NewGen Equity Long/Short Fund**

**Date:** 11/14/2025

**By:** By: /s/ David Dattels

**Name & Title:** David Dattels / President of NewGen Asset Management Limited on behalf of NewGen Equity Long/Short Fund