Silver X Mining Corp. (TSXV:AGX, OTCQB:AGXPF, F:AGX) announced that it has entered into a bought deal financing agreement with Red Cloud Securities Inc., acting as lead underwriter on behalf of a syndicate including Laurentian Bank Securities (collectively, the “Underwriters”).
Under the terms of the agreement, the underwriters will purchase 20M units of the Company at a price of C$0.50 per unit, for total gross proceeds of C$10M.
Each Unit comprises:
- One common share of Silver X, and
- One-half of one common share purchase warrant
Each Warrant entitles the holder to acquire one Common Share (a “Warrant Share”) at an exercise price of C$0.70, valid for 36 months following the closing date of the Offering.
Silver X has also granted the Underwriters an over-allotment option, exercisable up to 48 hours prior to closing, to purchase up to an additional 4M Units at the offering price. If fully exercised, this would generate up to an additional C$2M in gross proceeds.
Net proceeds from the offering will be used to fund capital and exploration activities at the company’s Nueva Recuperada Silver District in Peru, as well as for general working capital and corporate purposes.
The offering is expected to close on 29 September 2025, or on such other date as may be agreed upon by the company and the underwriters. Completion of the offering is subject to customary conditions, including approval from the TSX Venture Exchange.
To read more about this, please visit https://www.silverxmining.com/
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