Silver North increases private placement to $7-million

Executive Summary

• Silver North Resources Ltd. has upsized its brokered life private placement from C$5 million to C$7 million due to strong investor demand.
• The offering consists of up to 5 million standard units at 40 cents per unit and up to 8,928,572 charity flow-through units at 56 cents per unit.
• Proceeds are designated for exploration on the Haldane and Veronica properties in Yukon, as well as working capital and general corporate purposes.

Key Details

• Upsized Offering Size: Maximum gross proceeds increased to C$7.0 million (from C$5.0 million).
• Standard Units: Up to 5,000,000 units sold at C$0.40 per unit.
• Charity Flow-Through Units: Up to 8,928,572 units sold to charitable purchasers at C$0.56 per unit.
• Unit Composition:
  • Standard Units: One common share + one-half of one common share purchase warrant.
  • Charity Flow-Through Units: One common share (flow-through share under Subsection 66(15) of the Income Tax Act) + one-half of one warrant.
• Warrant Terms: Each whole warrant entitles the holder to purchase one common share at an exercise price of C$0.56. Warrants are exercisable from the 60th day following closing until 36 months after the closing date.
• Over-Allotment Option: Red Cloud Securities has an option to sell up to an additional C$1.0 million in any combination of units and charity flow-through units at their respective offering prices. This option is exercisable up to 48 hours prior to closing.
• Use of Proceeds:
  • General: Exploration and related programs on the Haldane and Veronica properties in Yukon, working capital, and general corporate purposes.
  • Flow-Through Specific: To incur eligible Canadian exploration expenses (flow-through mining expenditures) related to the Haldane and GDR projects on or before December 31, 2027.
  • Renunciation: All qualifying expenditures will be renounced in favor of subscribers of charity flow-through units effective December 31, 2026.
  • Indemnification: The company will indemnify charity flow-through unit subscribers for any additional taxes payable if the Canada Revenue Agency reduces qualifying expenditures.
• Regulatory Basis: Offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (as amended by Coordinated Blanket Order 45-935) for Canadian residents in Alberta, British Columbia, Manitoba, Ontario, and Saskatchewan. Also offered in the US via private placement exemptions under the Securities Act of 1933.
• Closing Date: Expected on or about February 5, 2026, subject to regulatory approvals including the TSX Venture Exchange.
• Agent: Red Cloud Securities Inc. acting as sole agent and bookrunner.

Notable Quotes

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