Northwire Canada EditionWednesday, July 29, 2026
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Financings

Silver X Mining Announces Closing Of Private Placements For Aggregate Gross Proceeds Of C$21.5 Million

By The Northwire Desk — AI Analysis Sep 29, 2025 · 07:35 AGX · 0.505 Silver X Mining Corp.
AGX · Price

Executive Summary

  • Silver X Mining Corp. closed a combined private placement raising C$21.5 million (C$16 M brokered + C$5.5 M non‑brokered).
  • 43,000,000 Units were sold at C$0.50 per Unit; each Unit includes one common share and half of a purchase warrant (full warrant exercisable at C$0.70).
  • Proceeds will fund capital and exploration expenditures for the Nueva Recuperada Silver District in Peru, as well as working‑capital and general corporate purposes.

Key Details

  • Brokered Offering: 32,000,000 Units sold at C$0.50 /Unit = C$16,000,000 gross proceeds; included full exercise of underwriters’ over‑allotment option.
  • Non‑Brokered Offering: 11,000,000 Units sold at C$0.50 /Unit = C$5,500,000 gross proceeds.
  • Aggregate Financing: Total gross proceeds C$21,500,000 from sale of 43,000,000 Units.
  • Unit Composition: Each Unit = 1 common share + ½ warrant; each full warrant allows purchase of one additional common share at C$0.70, exercisable any time before 29 Sep 2028.
  • Underwriter Compensation: Cash fees of C$1,258,020 plus 2,516,040 non‑transferable common share purchase warrants (the “Broker Warrants”). Broker Warrants exercisable at the offering price until 29 Sep 2028; subject to statutory hold period until 30 Jan 2026.
  • Use of Proceeds: Capital and exploration expenditures for the Nueva Recuperada Silver District (Peru), plus working capital and general corporate purposes.
  • Regulatory Notes: Units issued under NI 45‑106 exemptions; Canadian‑resident units freely tradeable immediately, offshore/U.S. units subject to hold periods. Final TSXV approval pending.
  • CEO Quote: José García emphasized the financing as a “critical moment” enabling transformative growth and positioning Silver X to become a fast‑growing silver producer in South America.

Notable Quotes

“This is an extremely important milestone for Silver X… The injection of capital will allow us to significantly advance our growth plans across exploration, resource conversion, and production scale.” – José García, President & CEO

All non‑material boilerplate, forward‑looking statements, and disclaimer text have been omitted.

Read the original news release →

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