Silver X Mining Corp. (TSXV:AGX, OTCQB:AGXPF, F:AGX) has successfully closed its previously announced private placements, raising a total of C$21.5 million to support its expansion plans in the Nueva Recuperada Silver District in Peru.
The financing included:
- A C$16 million brokered offering, led by Red Cloud Securities and Laurentian Bank Securities, which saw full exercise of the over-allotment option
- A C$5.5 million non-brokered offering, with Red Cloud also acting as finder
In total, 43 million units were issued at C$0.50 per unit, each consisting of one common share and half a warrant. Each full warrant is exercisable at C$0.70 until 29 September 2028.
José García, President and CEO of Silver X commented, “This is an extremely important milestone for Silver X. We are thrilled with the strength of investor demand that led to not one, but two upsizing’s of this C$21.5 million financing. This is a critical moment in the Company’s trajectory, and we thank all our shareholders for their continued support in sharing our vision of building the next district-scale silver project in Peru.”
“This financing represents more than just capital – it is the catalyst for transformative growth. For the first time in the Company’s history, we have the financial strength required to execute our vision properly and decisively. The injection of capital will allow us to significantly advance our growth plans across exploration, resource conversion, and production scale. Silver X now has the potential to become one of the fastest-growing silver producers in South America, with the foundations in place to deliver sustainable value and operational excellence.”
Proceeds will be directed toward exploration and capital expenditures in the Nueva Recuperada district, as well as general corporate purposes. The company also highlighted its strategic goal of building a district-scale silver operation in Peru.
Broker warrants were issued as part of the offering, and securities not issued under the listed issuer financing exemption are subject to a statutory hold period until January 30, 2026.
Final approval from the TSX Venture Exchange is pending.
To read more about this, please visit https://www.silverxmining.com/
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