Southern Silver Announces Bought Deal LIFE Private Placement for Gross Proceeds of C$8.0 Million

Group 1 - Southern Silver Exploration Corp. has entered into an agreement with Red Cloud Securities Inc. for a private placement to raise approximately C$8,000,000 by selling 29,629,630 units at C$0.27 per unit [1][3] - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at C$0.40 within 36 months after the closing date [2] - The company plans to use the net proceeds from the offering for advancing the Cerro Las Minitas project in Durango, Mexico, as well as for working capital and general corporate purposes [4] Group 2 - An over-allotment option allows Red Cloud to purchase an additional 7,407,408 units for up to C$2,000,000 in gross proceeds [3] - The offering is expected to close on or about July 29, 2025, subject to regulatory approvals [7] - The offering will be available to purchasers in specific Canadian provinces and may also be sold in offshore jurisdictions and the United States under certain exemptions [5]