VANCOUVER, BC / ACCESS Newswire / September 29, 2025 / Silver X Mining Corp. (TSXV:AGX) (OTCQB:AGXPF) (F:AGX) ("Silver X" or the "Company") is pleased to announce the closing of its previously announced "bought deal" private placement (the "Brokered Offering") for gross proceeds of C$16,000,000, which includes the full exercise of the Underwriters' over-allotment option as explained below. Pursuant to the Brokered Offering, the Company sold 32,000,000 units of the Company (each, a "Unit") at a price of C$0.50 per Unit (the "Offering Price"). Red Cloud Securities Inc. ("Red Cloud") acted as lead underwriter, Laurentian Bank Securities (collectively with Red Cloud, the "Underwriters") acted as co-manager in connection with the Brokered Offering.
Further to the Company's press release dated September 15, 2025, the Company has also completed its non-brokered private placement (the "Non-Brokered Offering", and collectively with the Brokered Offering, the "Offerings") for gross proceeds of C$5,500,000 from the sale of 11,000,000 Units at the Offering Price. The Company raised aggregate gross proceeds of C$21,500,000 from the sale of 43,000,000 Units at the Offering Price under the Offerings. The Underwriters also acted as finders for the Company in connection with the Non-Brokered Offering.
José García, President and CEO of Silver X, stated: "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."
Each Unit consists of one (1) common share of the Company (each, a "Common Share") and one-half (1/2) Common Share purchase warrant (each, a "Warrant"). Each whole Warrant entitles the holder to purchase one Common Share (each, a "Warrant Share") at a price of C$0.70 at any time on or before September 29, 2028.
The Company intends to use the net proceeds from the Offering 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.
In accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The Unit Shares and the Warrant Shares underlying the Units sold to purchasers resident in Canada are immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The Units were also offered to purchasers in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). All securities not issued pursuant to the Listed Issuer Financing Exemption are subject to a statutory hold period in accordance with applicable Canadian securities law and may not be traded until January 30, 2026, except as permitted by applicable securities legislation and the policies of the TSX Venture Exchange (the "TSXV")
There is an amended and restated offering document (the "Amended Offering Document") related to the Offerings that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.silverxmining.com.
As consideration for their services for the Offerings, the Underwriters received aggregate cash fees of C$1,258,020 and 2,516,040 non-transferable common share purchase warrants (the "Broker Warrants"). Each Broker Warrant is exercisable into one Common Share (each, a "Broker Warrant Share") at the Offering Price at any time on or before September 29, 2028. The Broker Warrants and Broker Warrant Shares are subject to a statutory hold period in accordance with applicable Canadian securities law and may not be traded until January 30, 2026, except as permitted by applicable securities legislation and the policies of the TSXV.
Completion of the Offerings remains subject to the final approval of the TSXV.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Silver X
Silver X Mining Corp. is a rapidly expanding silver producer and developer advancing the Nueva Recuperada Project in Peru, a 20,795-hectare, district-scale land package with two mining units and over 200 targets. Current production at the Tangana Mining Unit is scaling alongside the planned restart of the Plata Mine, supporting a path to ~6 million AgEq ounces annually by 2029. With immediate revenue, scalable growth, and long-term discovery upside - all within one integrated project - Silver X is building the next-generation silver company defined by growth, resilience, and responsible mining. For more information visit our website at www.silverxmining.com.
ON BEHALF OF THE BOARD
José M. García
CEO and Director
For further information, please contact:
Kaitlin Taylor
Investor Relations
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+1 778 887 6861
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation ("forward-looking information"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this press release, other than statements of current and historical fact, is forward looking information. Forward- looking information contained in this press release may include, without limitation, expectations regarding the expected use of proceeds from the Offering, the receipt of final approval of the Offerings from the TSXV, other sources of funds, exploration plans, results of operations, expected performance at the Project, the Company's belief that the Tangana system will provide considerable resource expansion potential, that the Company will be able to mine the Tangana Mining Unit in an economic manner, and the expected financial performance of the Company.
The following are some of the assumptions upon which forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; demand for, and stable or improving price for the commodities we produce; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company's operations at the Project and Nueva Recuperada Plant; the availability of financing for operations and development; the Company's ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; that the estimates of the resources at the Project and the geological, operational and price assumptions on which these and the Company's operations are based are within reasonable bounds of accuracy (including with respect to size, grade and recovery); the Company's ability to attract and retain skilled personnel and directors; and the ability of management to execute strategic goals.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the Company's annual and interim MD&As and in its public documents filed on www.sedarplus.ca from time to time. Forward- looking statements are based on the opinions and estimates of management as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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