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Financings

Silver X completes $21.5-million in private placements

By The Northwire Desk — AI Analysis Sep 29, 2025 · 17:14 AGX · 0.493 Silver X Mining Corp.
AGX · Price

Executive Summary

  • Silver X Mining Corp. closed two private placements, raising aggregate gross proceeds of C$21.5 million from the sale of 43 million units.
  • Each unit includes one common share and a half‑share purchase warrant exercisable at C$0.70 per share through 29 Sept 2028.
  • Net proceeds will fund capital and exploration expenditures in the Nueva Recuperada silver district, working capital and general corporate purposes.

Key Details

  • Brokered private placement: 32 million units sold at C$0.50 per unit for gross proceeds of C$16 million; includes full exercise of underwriters’ overallotment option. Lead underwriter – Red Cloud Securities Inc.; co‑manager – Laurentian Bank Securities.
  • Non‑brokered private placement: 11 million units sold at C$0.50 per unit for gross proceeds of C$5.5 million. Underwriters acted as finders.
  • Aggregate financing: Total of 43 million units, C$21.5 million gross proceeds; net proceeds to be used for exploration, capital projects in Peru, working capital and general corporate purposes.
  • Unit composition: Each unit = 1 common share + ½ common share purchase warrant; each whole warrant allows purchase of one common share at C$0.70 any time before 29 Sept 2028.
  • Underwriter compensation: Cash fees of C$1,258,020 plus 2,516,040 non‑transferable broker warrants (each exercisable into one common share at the offering price, same expiry).
  • Statutory hold period: All securities issued are subject to a hold period until 30 Jan 2026, except as permitted by law/TSX‑V rules.
  • Closing conditions: Completion pending final TSX‑V approval.

Notable Quotes

“This financing represents more than just capital – it is the catalyst for transformative growth… For the first time in the company’s history, we have the financial strength required to execute our vision properly and decisively.” – Jose Garcia, President & CEO

Materiality Assessment: Material – Positive (significant financing that enables expansion of operations and future production growth).

Read the original news release →

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