FAQ: Silver X Mining's C$21.5 Million Private Placements

What is the main announcement in this press release?

Silver X Mining has completed two private placements - a brokered offering of C$16 million and a non-brokered offering of C$5.5 million - raising total gross proceeds of C$21.5 million through the sale of 43 million units at C$0.50 per unit.

Why is this financing important for Silver X Mining?

This represents a critical milestone that provides the company with the financial strength required to execute its vision properly and decisively, allowing significant advancement of growth plans across exploration, resource conversion, and production scale in Peru.

How were the offerings structured and who managed them?

The brokered offering was managed by Red Cloud Securities Inc. as lead underwriter and Laurentian Bank Securities as co-manager, while the non-brokered offering also involved the underwriters acting as finders for the company.

What does each unit consist of?

Each unit consists of one common share of the company 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.

Where will the proceeds from this financing be used?

The net proceeds will be used for capital and exploration expenditures related to the company’s operations in the Nueva Recuperada Silver District in Peru, as well as for working capital and general corporate purposes.

How does the CEO view this financing achievement?

CEO José García stated this is an extremely important milestone representing more than just capital - it’s a catalyst for transformative growth that positions Silver X to become one of the fastest-growing silver producers in South America.

What regulatory exemptions were used for these offerings?

The units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, with unit shares and warrant shares being immediately freely tradeable in Canada.

How many units were sold in total and at what price?

A total of 43 million units were sold at C$0.50 per unit, consisting of 32 million units in the brokered offering and 11 million units in the non-brokered offering.

What is the significance of the Nueva Recuperada Silver District mentioned?

This is the location of Silver X’s operations in Peru where the company aims to build the next district-scale silver project, with the financing enabling significant advancement of exploration and development activities in this region.