Silver North Announces Closing of Brokered LIFE Private Placement for Gross Proceeds of C$11.6 Million

Executive Summary

• Silver North Resources Ltd. closed its brokered private placement, raising C$11.58 million in gross proceeds.
• The offering consisted of 4,982,461 regular units at C$0.40 each and 17,114,286 charity flow‑through units at C$0.56 each.
• Proceeds will fund exploration on the Haldane and Veronica projects in Yukon, as well as working capital and general corporate purposes.

Key Details

• Total gross proceeds: C$11,576,985 (including full exercise of the agent’s option).
• Units sold: 4,982,461 regular units @ C$0.40 per unit.
• Charity flow‑through units sold: 17,114,286 units @ C$0.56 per unit.
• Unit composition: Each regular unit = 1 common share + ½ warrant; each charity FT unit = 1 common share (flow‑through) + ½ warrant.
• Warrant terms: Whole warrants allow purchase of one common share at C$0.56, exercisable from April 10 2026 to February 10 2029.
• Broker compensation: Red Cloud Securities received cash fees of C$810,388.92 and 1,546,772 non‑transferable common share purchase warrants (exercisable at the unit price through Feb 10 2029).
• Use of proceeds – regular units: Exploration and related programs on Haldane and Veronica properties; working capital and general corporate purposes.
• Use of proceeds – charity FT units: Eligible Canadian exploration expenses (“Qualifying Expenditures”) for Haldane and GDR projects, to be incurred by Dec 31 2027 and renounced to subscribers by Dec 31 2026; indemnification provision if CRA reduces qualifying expenditures.
• Exemptions & trading: 15,696,747 securities issued under the listed‑issuer financing exemption (freely tradeable). 6,400,000 charity FT units issued under other NI 45‑106 exemptions with a hold period ending June 11 2026.
• Closing condition: Subject to final approval by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)