Silver X Mining Plans Private Placement for Up to C$3 Million

Silver X Mining Corp., headquartered in Vancouver, has announced a brokered private placement to generate up to C$3 million. The agreement, facilitated by Red Cloud Securities Inc., involves the sale of up to 17,647,059 units priced at C$0.17 per unit. Each unit comprises one common share and one share purchase warrant, priced at C$0.25, valid for 36 months post-closing.

An additional 2,941,176 units may be available through an option granted to the agent, potentially increasing proceeds by C$500,000. The offering, adhering to National Instrument 45-106, targets Canadian provinces and select international markets.

The funds will support operations in Peru’s Nueva Recuperada Silver District, alongside working capital needs. Closing is expected by March 13, pending necessary approvals.