Silver X Mining Announces C$10 Million Offering

Silver X Mining Corp. has entered into an agreement with Red Cloud Securities Inc. for a bought deal offering worth C$10 million. The company plans to sell 20,000,000 units at C$0.50 each. Red Cloud Securities, with Laurentian Bank Securities, will underwrite the deal. Each unit comprises one common share and a half purchase warrant. A full warrant allows purchasing a share at C$0.70 within 24 months.

An over-allotment option could add 4,000,000 units, raising an extra C$2 million. Proceeds will fund capital and exploration in Peru's Nueva Recuperada Silver District, alongside other corporate needs. The offering is expected to close by September 29, requiring specific approvals, including from TSX Venture Exchange.