Silverco Announces Closing of Its $62.5 Million "Bought Deal" Offering

Executive Summary

• Silverco Mining Ltd. closed a bought‑deal financing for aggregate gross proceeds of $62.5 million.
• The offering consisted of 4,000,000 common shares at $12.50 each ($50 M) and 1,000,000 units (each unit = 1 share + ¼ warrant) at $12.50 per unit ($12.5 M).
• Net proceeds will fund exploration and restart work on the Cusi Project, general & administrative expenses, and working capital.

Key Details

• Underwriters: Velocity Capital Partners (sole bookrunner), Desjardins Securities Inc. (co‑lead) with ATB Capital Markets, Canaccord Genuity, National Bank Financial, Raymond James.
• Insider Participation: Eric Sprott purchased a lead order of $10 M; insiders subscribed for 98,000 shares and 800,000 units ($11.225 M).
• Warrant Terms (Units): Each unit includes one‑quarter of a warrant exercisable at $18.00 per share for 18 months from issuance.
• Fees: Underwriters received a cash fee equal to 5% of gross proceeds (excluding any direct subscription commissions).
• Holding Period: Units are subject to a four‑month‑plus‑one‑day hold period under Canadian securities law; shares issued under the listed issuer financing exemption have no resale restrictions.
• Use of Proceeds: Primarily for exploration, evaluation, and restart work at the Cusi Project, plus general & administrative expenses and working capital.
• Regulatory: Offering remains subject to final acceptance by the TSX Venture Exchange; securities not registered in the U.S. and may be offered only under applicable exemptions.

Notable Quotes

“This $62.5 million financing provides the financial strength to match our operational ambitions… We are moving into 2026 with a robust balance sheet and a clear path to becoming a significant silver producer.” – Mark Ayranto, President & CEO