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VANCOUVER - Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF), which has seen its stock surge nearly 190% year-to-date according to InvestingPro data, announced Friday it has upsized its previously announced "bought deal" private placement from C$10 million to C$13 million due to strong investor demand.
Under the expanded offering, Red Cloud Securities Inc. will lead a syndicate of underwriters including Laurentian Bank Securities to purchase 26 million units at C$0.50 per unit. Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at C$0.70 for 36 months after closing.
The underwriters have been granted an option to purchase up to an additional 6 million units at the same price, potentially raising an additional C$3 million.
Silver X plans to use the proceeds for capital and exploration expenditures at its Nueva Recuperada Silver District operations in Peru, as well as for working capital and general corporate purposes. The funding comes at a crucial time, as InvestingPro data shows the company’s current ratio of 0.38 indicates tight liquidity, while revenue has grown 23% over the last twelve months to $21.48 million.
The offering is expected to close on September 29, 2025, subject to regulatory approvals including from the TSX Venture Exchange.
Units will be offered to purchasers in Canadian provinces except Quebec under the listed issuer financing exemption, making the underlying shares freely tradeable upon issuance in accordance with Canadian securities legislation. The offering may also extend to offshore jurisdictions and the United States via private placement exemptions.
Silver X Mining, with a market capitalization of $79.51 million, owns the 20,472-hectare Nueva Recuperada Silver Project in Central Peru, where it produces silver, gold, lead, and zinc from its Tangana Mining Unit. For investors seeking deeper insights into Silver X’s financial health and growth prospects, InvestingPro offers 13 additional exclusive tips and comprehensive metrics.
The information in this article is based on a company press release statement.
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