Silver X Mining Secures C$69M from Convertible Debentures Offering

Silver X Mining Corp. has completed a brokered private placement of secured convertible debentures. The offering has raised C$69 million, surpassing initial expectations due to strong investor demand. This increase includes a 15% over-allotment, raising proceeds from the initial C$60 million.

The debentures, issued at C$1,000 each, hold a fixed interest of 10% per annum, payable semi-annually, maturing in five years. Investors have the option to convert the debentures into common shares at C$1.62 per share. The funds will support the Nueva Recuperada Project in Peru, focusing on production expansion and exploration.

Silver X intends to use these funds for development, working capital, and corporate purposes. The offering, conducted with Ventum Financial Corp. as agent, remains subject to TSX Venture Exchange approval and comes with a 6% agent commission.