Silver X Mining upsizes private placement to C$13 million

Silver X Mining Corp. (TSX-V: AGX) increased its private placement offering from C$10 million to C$13 million due to investor demand, the company announced September 12.

The mining company will sell 26 million units at C$0.50 per unit through underwriters led by Red Cloud Securities Inc. and including Laurentian Bank Securities. Each unit consists of one common share and one-half warrant, with each full warrant allowing the purchase of one share at C$0.70 within 36 months of closing.

Underwriters have an option to purchase up to 6 million additional units for C$3 million more in gross proceeds, exercisable up to 48 hours before closing.

Silver X plans to use net proceeds for capital and exploration expenditures at its Nueva Recuperada Silver District operations in Peru, plus working capital and general corporate purposes.

The offering will close September 29, 2025, subject to regulatory approvals including TSX Venture Exchange approval. Units will be sold to Canadian residents except Quebec under the listed issuer financing exemption, with shares expected to be immediately tradeable. The company may also sell units in offshore jurisdictions and the United States through private placement exemptions.

Silver X operates the 20,472-hectare Nueva Recuperada Silver Project in Peru and produces silver, gold, lead and zinc from its Tangana Mining Unit. The company trades on TSX Venture Exchange, OTCQB and Frankfurt exchanges.

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