Silverco increases bought deal offering to $62.5M

Executive Summary

• Silverco Mining Ltd. upsized its bought‑deal offering from $40 million to $62.5 million, targeting gross proceeds of $62.5 million.
• The deal includes the sale of 4 million common shares at $12.50 each ($50 million) and 1 million units (each unit = 1 share + ¼ warrant) for an additional $12.5 million.
• Net proceeds will be used to fund exploration, evaluation and restart work on the Cusi project, as well as general corporate purposes.

Key Details

• Upsized Offering Size: $62.5 million (previously $40 million).
• Lead Underwriter / Sole Bookrunner: Velocity Capital Partners (on behalf of a syndicate).
• Insider Participation: Eric Sprott will place a lead order of $10 million.
• Share Component: 4 million common shares at $12.50 per share → gross proceeds $50 million to the company.
• Unit Component: 1 million units at $12.50 per unit → gross proceeds $12.5 million to the company.
• Unit Structure: Each unit = 1 common share + ¼ warrant; each full warrant exercisable for one share at $18 per share, valid for 18 months from issuance.
• Exemptions Used:
• Shares – listed‑issuer financing exemption under NI 45‑106 (modified by COBO 45‑935).
• Units – other NI 45‑106 exemptions (non‑listed‑issuer).
• Private‑Placement Availability: May be offered offshore and in the U.S. under applicable securities law exemptions; treated as restricted securities in the U.S.
• Resale Restrictions:
• Shares issued under listed‑issuer exemption – no resale restrictions.
• Units (and underlying securities) – subject to a hold period of four months and one day from closing under Canadian law.
• Use of Proceeds: Exploration, evaluation and restart work on the Cusi project; general & administrative expenses; working capital.
• Closing Timeline: Expected to close on or about Feb 19 2026, subject to customary conditions (TSX‑V conditional listing approval, regulatory approvals).
• Documentation: Amended and restated offering document available on SEDAR+ and the company website; investors urged to review before investing.

Notable Quotes

(No direct quotes were provided in the release.)