BRIEF

on Silver X Mining Corp. (isin : CA8283411079)

Silver X Mining Announces Upsize to Private Placement

Silver X Mining Corp., a developer and producer of silver in the Americas, has upsized its non-brokered private placement due to high demand. Initially announced on March 21 and April 4, 2024, the company now aims to raise C$5,000,000 by offering units at $0.18 each. Each unit includes one common share and a half warrant, allowing the holder to purchase additional shares at $0.30 each over 36 months following the closing date.

The funds from this private placement are earmarked for capital expenditures and exploration activities in the Nueva Recuperada Silver District in Peru and potential asset acquisitions. The offering might include finder's fees and is subject to a customary hold period and regulatory approvals, including the final nod from the TSX Venture Exchange. CEO José Garcia and VP Corporate Development Sebastian Wahl have shown interest in participating, a move considered a related party transaction under current exchange policies but exempt from certain requirements due to the transaction size.

This financial maneuver is crucial for Silver X's expansion and development strategies, particularly for its operations and exploration projects in Peru. The securities issued will not be registered under the U.S. Securities Act of 1933, indicating they will not be offered or sold in the United States, underscoring the company's compliance with both Canadian and U.S. securities laws.

R. E.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved. Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Silver X Mining Corp. news