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VANCOUVER - Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF), a mining company with a market capitalization of approximately $80 million that has seen its stock surge over 170% year-to-date according to InvestingPro data, announced Monday it is proceeding with a non-brokered private placement offering following strong investor demand, which will run concurrently with its previously announced "bought deal" placement.
The non-brokered offering will raise between C$3 million and C$5.5 million through the sale of 6-11 million units at C$0.50 per unit. This accompanies the company’s brokered offering of 26 million units at the same price for gross proceeds of C$13 million, with an over-allotment option for an additional 6 million units worth C$3 million. The financing comes as InvestingPro analysis shows the company operating with a current ratio of 0.38, indicating potential near-term liquidity needs.
If fully subscribed, including the over-allotment option, the combined offerings would raise aggregate gross proceeds of C$21.5 million.
Each unit consists of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at C$0.70 for 36 months after the closing date.
Red Cloud Securities Inc. and Laurentian Bank Securities Inc. are acting as finders for the non-brokered offering, while Red Cloud serves as lead underwriter for the brokered placement.
Proceeds will fund capital and exploration expenditures at the company’s Nueva Recuperada Silver District operations in Peru and provide working capital.
The offerings are scheduled to close on September 29, 2025, subject to necessary approvals including from the TSX Venture Exchange.
Silver X Mining currently produces silver, gold, lead, and zinc from its Tangana Mining Unit within the 20,472-hectare Nueva Recuperada Silver Project in Central Peru. The company generated revenue of $21.5 million in the last twelve months, with a revenue growth rate of 23% according to InvestingPro, which offers 8 additional key insights about the company’s financial health and market position.
The information in this article is based on a company press release statement.
In other recent news, Silver X Mining Corp. has increased its "bought deal" private placement from C$10 million to C$13 million. This decision comes in response to strong investor demand. The offering will be led by Red Cloud Securities Inc., with Laurentian Bank Securities also participating. The syndicate of underwriters will purchase 26 million units at a price of C$0.50 per unit. Each unit includes one common share and one-half of a common share purchase warrant. The warrants are exercisable at C$0.70 for a period of 36 months following the closing of the deal. These developments reflect a positive response from investors towards Silver X Mining’s financial offerings.
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