Silver North increases private placement to $2.25M

Executive Summary

• Silver North Resources Ltd. has fully subscribed and increased its non-brokered private placement of flow-through shares, raising aggregate gross proceeds of up to $2,250,500.
• The company will utilize the gross proceeds to incur eligible Canadian exploration expenses related to its Yukon projects, which will be renounced to subscribers effective December 31, 2025.
• The offering consists of 6.43 million flow-through shares priced at 35 cents per share, with the transaction closing shortly.

Key Details

• Transaction Structure: Non-brokered private placement of flow-through shares (FT shares).
• Total Gross Proceeds: Up to $2,250,500.
• Share Quantity: 6.43 million FT shares.
• Price Per Share: 35 cents CAD.
• Subscription Status: Fully subscribed.
• Closing Timeline: Closing shortly.
• Use of Proceeds: The gross proceeds will be used to incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures under the Income Tax Act (Canada).
• Project Location: Yukon projects.
• Renunciation Date: Qualifying expenditures will be renounced in favour of subscribers effective December 31, 2025.
• Expenditure Deadline: Eligible expenses must be incurred on or before December 31, 2026.
• Share Composition: Each FT share consists of one common share qualifying as a flow-through share under Subsection 66(15) of the Income Tax Act (Canada).