Silver X Mining Corp. Announces Up To C$2 Million Non-Brokered Private Placement

VANCOUVER, BC - Silver X Mining Corp. disclosed plans for a non-brokered private placement aiming to raise up to C$2,000,000 through the issuance of 11,111,111 units at a price of $0.18 each. Each unit will consist of a common share and a half-share purchase warrant, which grants buying rights for a share at $0.30 each for 36 months post-closing.

The funds from this private placement are earmarked for capital expenditures and exploration activities in the Nueva Recuperada Silver District, Peru, and for potential asset acquisitions. The offering is subject to regulatory approvals, including the TSX Venture Exchange's nod, with a planned closing around March 29, 2024.

The securities issued will be available under exemptions from prospectus requirements and will be on hold for four months plus one day following the closing. The offering's specifics highlight the company's focus on expanding and developing its project portfolio, aligning with its objective of becoming a leading silver company.