Silver X Mining Secures C$21.5 Million in Private Placements to Accelerate Peruvian Silver Operations

Silver X Mining Corp. has completed its previously announced private placements, raising total gross proceeds of C$21.5 million through the sale of 43 million units at C$0.50 per unit. The financing consisted of a brokered offering that generated C$16 million, including the full exercise of the underwriters' over-allotment option, and a non-brokered offering that raised an additional C$5.5 million. Red Cloud Securities Inc. acted as lead underwriter while Laurentian Bank Securities served as co-manager for the brokered offering, with both firms also acting as finders for the non-brokered portion.

According to José García, President and CEO of Silver X, this financing represents a critical milestone for the company's trajectory. He emphasized that the strong investor demand led to two upsizings of the financing, providing the financial strength required to execute the company's vision properly and decisively for the first time in its history. The capital injection will enable significant advancement of growth plans across exploration, resource conversion, and production scale, potentially positioning Silver X as one of the fastest-growing silver producers in South America.

Each unit in the offerings consists of one common share and one-half common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at C$0.70 until September 29, 2028. The company intends to use the net proceeds for capital and exploration expenditures related to operations in the Nueva Recuperada Silver District in Peru, as well as for working capital and general corporate purposes. The units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under National Instrument 45-106, with unit shares and warrant shares being immediately freely tradeable in Canada.

An amended and restated offering document related to the offerings can be accessed under the company's profile at https://www.sedarplus.ca and on the company's website at https://www.silverxmining.com. As consideration for their services, the underwriters received aggregate cash fees of C$1,258,020 and 2,516,040 non-transferable common share purchase warrants exercisable at the offering price until September 29, 2028. Completion of the offerings remains subject to final approval from the TSX Venture Exchange, with securities not issued pursuant to the listed issuer financing exemption subject to a statutory hold period until January 30, 2026.