Silver X Mining Announces Non-Brokered Life Private Placement Concurrent With Bought Deal Life Offering For Aggregate Gross Proceeds of Up to C$21.5 Million

Rhea-AI Summary

Silver X Mining (OTCQB:AGXPF) has announced a combined financing initiative comprising a non-brokered private placement and a bought deal offering for total potential proceeds of up to C$21.5 million.

The non-brokered offering aims to raise between C$3-5.5 million through the sale of 6-11 million units at C$0.50 per unit. Concurrently, the bought deal offering seeks to raise C$13 million through 26 million units, with an over-allotment option for an additional C$3 million. Each unit includes one common share and a half warrant exercisable at C$0.70 for 36 months.

Proceeds will fund capital and exploration expenditures at the company's Nueva Recuperada Silver District in Peru, along with working capital needs. The offerings are expected to close on September 29, 2025.

Positive

• Strong investor demand leading to expanded offering size up to C$21.5 million
• Funds will support exploration and development of Nueva Recuperada Silver District
• 36-month warrants provide potential additional future capital at C$0.70 per share
• Unit shares will be immediately freely tradeable for Canadian purchasers

Negative

• Significant dilution for existing shareholders
• 50% discount to warrant exercise price indicates potential pressure on share value
• Multiple concurrent offerings may create market confusion and pressure

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / September 15, 2025 / Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company") is pleased to announce that further to the Company's press release dated September 11 and September 12, 2025 and as a result of strong investor demand, the Company is proceeding with a non-brokered private placement (the "Non-Brokered Offering") for the sale of a minimum of 6,000,000 units of the Company (each, a "Unit") to a maximum of 11,000,000 Units at a price of C$0.50 per Unit (the "Offering Price") for minimum gross proceeds of C$3,000,000 to maximum gross proceeds of C$5,500,000. Red Cloud Securities Inc. ("Red Cloud") and Laurentian Bank Securities Inc. ("LBS") are acting as finders for the Company in connection with the Non-Brokered Offering.

The Non-Brokered Offering is being completed concurrent with the Company's previously announced "bought deal" private placement (the "Brokered Offering", and collectively with the Non-Brokered Offering, the "Offerings") for gross proceeds of C$13,000,000 from the sale of 26,000,000 Units at the Offering Price. Red Cloud, as lead underwriter, and Laurentian Bank Securities (collectively with Red Cloud, the "Underwriters") are acting as underwriters in connection with the Brokered Offering. The Company will grant to the Underwriters an option, exercisable up to 48 hours prior to the closing date of the Brokered Offering, to purchase for resale up to an additional 6,000,000 Units at the Offering Price to raise up additional gross proceeds of up to C$3,000,000 (the "Over-Allotment Option"). In the event that the Company sells the maximum number of Units issuable under the Offerings, which includes the exercise in full of the Over-Allotment Option, the Company would raise aggregate gross proceeds of C$21.5 million.

Each Unit will consist of one common share of the Company (each, a "Common Share") and one-half Common Share purchase warrant (each, a "Warrant"). Each whole Warrant shall entitle the holder to purchase one Common Share (each, a "Warrant Share") at a price of C$0.70 at any time on or before that date which is 36 months after the closing date of the Offerings.

The Company intends to use the net proceeds from the Offerings 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.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units under the Non-Brokered Offering will be offered for sale to purchasers resident in all of the provinces of Canada except Québec 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 are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The Units may also be sold 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 will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the closing date of the Non-Brokered Offering.

The Offerings are scheduled to close on September 29, 2025 (the "Closing Date"), or such other date as the Company and Red Cloud may agree. Completion of the Offerings are subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

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. Prospective investors should read this Amended Offering Document before making an investment decision.

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 is a rapidly expanding silver producer and developer. The Company owns the 20,472-hectare Nueva Recuperada Silver Project in Central Peru and produces silver, gold, lead, and zinc from its Tangana Mining Unit. We are building a premier silver company that aims to deliver outstanding value to all stakeholders, consolidating and developing undervalued assets, adding resources, and increasing production while aspiring to sustain the communities that support us and stewarding the environment. Current production, paired with immediate development and brownfield expansion opportunities, presents investors with the opportunity to invest in the early stages of a silver producer with strong growth prospects. 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
ir@silverxmining.com
+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 Offerings, 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.

SOURCE: Silver X Mining Corp.

View the original press release on ACCESS Newswire

FAQ

How much is Silver X Mining (AGXPF) raising in their September 2025 offerings?

Silver X Mining is raising up to C$21.5 million through a combination of a C$13 million bought deal offering, a C$5.5 million non-brokered placement, and a C$3 million over-allotment option.

What is the price per unit for Silver X Mining's September 2025 private placement?

The units are priced at C$0.50 per unit, with each unit consisting of one common share and a half warrant exercisable at C$0.70 for 36 months.

How will Silver X Mining use the proceeds from their 2025 private placement?

The proceeds will be used for capital and exploration expenditures at the Nueva Recuperada Silver District in Peru, as well as working capital and general corporate purposes.

When will Silver X Mining's September 2025 private placement close?

The offerings are scheduled to close on September 29, 2025, subject to necessary approvals including TSX Venture Exchange approval.

Who are the underwriters for Silver X Mining's bought deal offering?

Red Cloud Securities Inc. is acting as lead underwriter, along with Laurentian Bank Securities for the brokered offering portion.