Silver X arranges $10-million bought deal offering

Executive Summary

• Silver X Mining Corp. entered into a bought‑deal financing agreement for up to C$10 million, selling 20 million units at $0.50 per unit.
• Each unit includes one common share and a half‑share purchase warrant (full warrant allows purchase of one share at $0.70 within 24 months).
• An overallotment option permits the underwriters to buy up to an additional 4 million units for up to $2 million; net proceeds will fund exploration in Peru’s Nueva Recuperada district, capital expenditures, working capital and general corporate purposes.

Key Details

• Offering Size: Up to C$10 million gross proceeds from sale of 20 million units at $0.50 per unit.
• Unit Composition: 1 common share + ½ common‑share purchase warrant (full warrant = right to buy 1 share at $0.70).
• Overallotment Option: Up to 4 million additional units, exercisable up to 48 hours before closing, for an extra $2 million gross proceeds.
• Lead Underwriter: Red Cloud Securities Inc.; syndicate includes Laurentian Bank Securities.
• Closing Date: Expected on September 29, 2026 (or earlier/later by mutual agreement).
• Conditions: Subject to required approvals, including TSX Venture Exchange clearance.
• Use of Proceeds: Capital and exploration expenditures in the Nueva Recuperada silver district (Peru), plus working capital and general corporate purposes.
• Warrant Terms: Exercise price $0.70 per share; exercisable any time up to 24 months after offering closing date.

Notable Quotes

(No direct quotes were provided in the release.)