Silver X Mining Announces C$10 Million Bought Deal Offering to Fund Peruvian Operations

Silver X Mining Corp. has entered into an agreement with Red Cloud Securities Inc. to act as lead underwriter for a syndicate that will purchase 20,000,000 units of the company at C$0.50 per unit, aiming to raise gross proceeds of C$10,000,000. Each unit consists of one common share and one-half common share purchase warrant, with each whole warrant allowing the holder to purchase an additional common share at C$0.70 within 24 months of the offering's closing date. The underwriters also hold an over-allotment option to purchase up to 4,000,000 additional units, potentially raising an extra C$2,000,000.

The net proceeds from this offering are earmarked for capital and exploration expenditures at the company's operations in the Nueva Recuperada Silver District in Peru, along with working capital and general corporate purposes. This financing move underscores the company's commitment to expanding its footprint in one of Peru's promising silver districts, which could enhance resource development and production capabilities. The offering is scheduled to close on September 29, pending necessary approvals, including from the TSX Venture Exchange.

An offering document related to this transaction is available under the company's profile at https://www.sedarplus.ca and on the company's website at https://www.silverxmining.com. Prospective investors are advised to review this document before making any investment decisions, as it contains critical details about the terms and risks associated with the offering. This news release does not constitute an offer to sell securities in the United States, as the securities are not registered under the U.S. Securities Act and may not be offered or sold to U.S. persons without registration or an applicable exemption.

The implications of this announcement are significant for investors and the mining industry, as it reflects Silver X Mining's strategic push to capitalize on growth opportunities in the silver market. By securing up to C$12 million in funding, the company positions itself to accelerate exploration and development activities, potentially increasing resource estimates and production outputs. This could drive long-term value creation, but investors should note the forward-looking nature of such plans, which are subject to risks and uncertainties, including market conditions, regulatory approvals, and operational challenges detailed in the company's filings on https://www.sedarplus.ca.