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 conduct a bought deal offering that could raise up to C$10 million. The offering involves the sale of 20,000,000 units at C$0.50 per unit, with each unit consisting of one common share and one-half warrant exercisable at C$0.70 per share for 24 months.

The company has granted the underwriters an over-allotment option to purchase up to 4,000,000 additional units, potentially raising an additional C$2,000,000. Proceeds from the offering will be directed toward capital and exploration expenditures at the Nueva Recuperada Silver District in Peru, along with working capital and general corporate purposes.

The offering is scheduled to close on September 29, pending necessary approvals including from the TSX Venture Exchange. Investors can access the offering document through the company's profile at https://www.sedarplus.ca or on the company website at https://www.silverxmining.com.

This financing move comes as Silver X positions itself as a rapidly expanding silver producer, with current operations at the Tangana Mining Unit producing silver, gold, lead, and zinc. The funding will support the company's strategy to consolidate and develop undervalued assets while increasing production capacity.

The securities offered have not been registered under the U.S. Securities Act and may not be offered or sold within the United States absent registration or applicable exemption. The offering represents a significant capital infusion that could accelerate development timelines and resource expansion in one of Peru's promising silver districts.