Silver North increases financing to $10.58-million

Executive Summary

• Silver North Resources Ltd. has upsized its brokered life private placement (LIFE) offering, increasing the maximum gross proceeds from $7 million to $10,584,000 due to strong investor demand.
• The offering consists of two tranches: up to 5 million standard units at $0.40 per unit and up to ~15.33 million flow-through (FT) charity units at $0.56 per unit.
• Proceeds will fund two years of exploration and operating costs, specifically enabling larger, more efficient drill programs at the Haldane silver project in Yukon.

Key Details

• Total Gross Proceeds: Upsized to $10,584,000.
• Standard Units: Up to 5,000,000 units offered at $0.40 per unit.
• Flow-Through (FT) Charity Units: Up to 15,328,572 units offered to charitable purchasers at $0.56 per unit.
• Agent Option: Red Cloud Securities has an option to sell up to an additional $1,000,000 in any combination of units and charity FT units, exercisable up to 48 hours prior to closing.
• Warrant Terms: Each unit (standard and FT) includes one common share and one-half of one common share purchase warrant.
  • Exercise Price: $0.56 per share.
  • Exercise Period: Commencing 60 days after closing and expiring 36 months after closing.
• Use of Proceeds:
  • Exploration and related programs on Haldane and Veronica properties in Yukon.
  • Working capital and general corporate purposes.
  • Specifically, FT share proceeds will be used to incur eligible Canadian exploration expenses (renounced to charity subscribers) on Haldane and GDR projects on or before Dec. 31, 2027.
• Regulatory Exemptions:
  • LIFE Exemption: Up to 15,696,747 securities offered to residents of Alberta, BC, Manitoba, Ontario, and Saskatchewan. These securities are expected to be immediately freely tradeable.
  • Non-LIFE Exemption: Up to 6.4 million charity FT units issued under other exemptions, subject to a 4-month-and-1-day hold period in Canada.
  • US/International: Offered via private placement exemptions under the US Securities Act of 1933 and equivalent foreign laws.
• Closing Date: Expected on or about Feb. 10, 2026, subject to TSX Venture Exchange approval and other conditions.
• Company Statement: Executive Chair Mark T. Brown stated the company is "fully funded for two full years of exploration and operating costs" and that larger drill programs will be more efficient on a cost-per-metre basis.

Notable Quotes

• "We have been selective on the financing participants and this addition is for one group that any company would want to have on their shareholder list. With these funds, the company is fully funded for two full years of exploration and operating costs. In addition, larger drill programs at the Haldane silver project will be more efficient on a cost per metre basis." — Mark T. Brown, Executive Chair