Silver X increases bought deal offering to $13-million

Executive Summary

• Silver X Mining Corp. upsized its bought‑deal private placement from $10 M to C$13 M gross proceeds.
• Red Cloud Securities will purchase 26 million units at C$0.50 per unit, each comprising one common share and a half‑share warrant (exercise price C$0.70, exercisable for 36 months).
• An underwriter option allows up to an additional 6 million units (≈C$3 M) to be sold; net proceeds will fund exploration in the Nueva Recuperada district, capital projects, working capital and general corporate purposes.

Key Details

• Upsized Offering Size: Gross proceeds increased to C$13 million (from previously announced $10 M).
• Units Purchased: 26 million units at C$0.50 per unit.
• Unit Composition: 1 common share + ½ common‑share purchase warrant.
• Warrant Terms: Each whole warrant permits purchase of one common share at C$0.70, exercisable any time up to 36 months after closing.
• Underwriter Option: Up to 48 hours before closing, underwriters may purchase an additional ≤6 million units at the offering price, potentially raising up to C$3 million extra gross proceeds.
• Use of Proceeds: Capital and exploration expenditures in the Nueva Recuperada silver district (Peru), plus working capital and general corporate purposes.
• Closing Date: Scheduled for September 29, 2025, or earlier/later by mutual agreement.
• Regulatory Conditions: Subject to TSX Venture Exchange approval and compliance with NI 45‑106 exemptions; units freely tradable in Canada (except Quebec) and may be sold offshore under U.S. securities law exemptions.
• Hold Period: Units not issued under the listed issuer financing exemption subject to a 4‑month‑plus‑1‑day hold period after closing.

Notable Quotes

(No direct quotes were provided in the release.)