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Financings

Silver One Announces Closing of First Tranche for $31 Million

By The Northwire Desk — AI Analysis Jan 29, 2026 · 18:26 SVE · 0.8 Silver One Resources Inc.
SVE · Price

Executive Summary

  • Silver One Resources closed the first tranche of its non‑brokered private placement, issuing 53,583,000 units at $0.58 each for gross proceeds of $31.08 M.
  • Investor Eric Sprott subscribed for ~​$10 M, raising his ownership to approximately 16 % (non‑diluted) of the company’s common equity.
  • Net proceeds are earmarked for drilling and exploration at Candelaria, metallurgical and environmental work, a pre‑feasibility study, claim payments, additional exploration, and general working capital.

Key Details

  • Units issued: 53,583,000 (each unit = 1 common share + ½ warrant).
  • Price per unit: $0.58.
  • Aggregate gross proceeds: $31,078,140.
  • Final tranche target: $922,200 (to be closed shortly).
  • Warrant terms: Each whole warrant allows purchase of one additional common share at $0.80 for three years from issuance.
  • Finder’s cash fee paid: $1,779,464 (no finder’s warrants issued).
  • Use of proceeds:
    1. Drilling program at the Candelaria Project.
    2. Exploration and geophysics work on other mineral properties.
    3. Metallurgical and environmental studies at Candelaria.
    4. Preparation of a pre‑feasibility study for Candelaria.
    5. Annual BLM mineral claim payments.
    6. Additional exploration drilling across the company’s portfolio.
    7. General working capital.
  • Eric Sprott investment: Acquired 17,240,000 units for $9,999,200 through 2176423 Ontario Ltd.
  • Post‑offering ownership (Sprott):
  • Shares controlled: 55,113,016 (≈ 16 % non‑diluted, ≈ 18 % partially diluted).
  • Warrants held: 8,620,000.
  • Regulatory compliance: Units offered under NI 45‑106 prospectus exemption; no hold period for Canadian subscribers (excluding Quebec).

Notable Quotes

“Management is very pleased with the enthusiastic response to the Offering… This is a strong show of support for our company and its silver‑focused projects.” – Management
“The Company plans to move aggressively with more exploration drilling at all our projects…” – Greg Crowe, CEO

Read the original news release →

More from Silver One Resources Inc.

Nov 03, 2026 · 00:16

Silver One accelerates its Candelaria drill program by mobilizing two new rigs to the Nevada site.

Drill Results Oct 13, 2026 · 03:15

Silver One expands district targets at Candelaria via ZTEM survey ahead of the late-2026 preliminary feasibility study.

Drill Results Oct 01, 2026 · 00:16

Silver One adds metres to its drilling pace at the project without reporting new assay results or rock samples.

Drill Results Sep 17, 2026 · 00:16

Silver One’s 400 m down-dip step-out at the project returned 25.9 m at 250 g/t AgEq, with half the holes still pending.

Drill Results Sep 14, 2026 · 00:16

Microgravity survey targets dense native silver bodies at Phoenix Silver's 417 zone.

Drill Results Aug 27, 2026 · 00:16

Silver One upgraded Candelaria leach pad resources to measured and indicated, boosting total silver equivalent to 126.6 million ounces.

Resource Estimate