Silver X Mining Launches C$5 Million Private Placement

Silver X Mining Corp., based in Vancouver, has entered into an agreement with Red Cloud Securities Inc. for a private placement aiming to raise up to C$5 million. The offering involves the sale of 16,666,667 units at C$0.30 per unit. Each unit comprises one common share and half a share purchase warrant, allowing the purchase of additional shares at C$0.42 within 24 months.

An option permits selling an extra 3,333,333 units to potentially raise an additional C$1 million. The placement is targeted at purchasers in several Canadian provinces and select international markets, adhering to relevant securities legislation.

Proceeds will support capital and exploration efforts in Peru's Nueva Recuperada Silver District, alongside general corporate needs. The offering is set to conclude by November 14, subject to regulatory approvals.