Silver Mountain Announces C$15 Million Bought Deal

Core Viewpoint - Silver Mountain Resources Inc. has entered into a bought deal agreement to raise C$15,002,000 through the sale of 11,540,000 units at a price of C$1.30 per unit, with potential for additional proceeds if the over-allotment option is exercised [1][3]. Group 1: Offering Details - The offering consists of units, each comprising 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$1.70 for 24 months post-offering [2]. - An over-allotment option allows underwriters to purchase an additional 1,730,000 units within 30 days of the closing date, potentially increasing total gross proceeds to C$17,251,000 if fully exercised [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for the development of the Reliquias mine, Caudalosa plant, related facilities, and for general corporate purposes [5]. Group 3: Regulatory and Distribution Information - The units will be offered via a prospectus supplement in Canada, private placements in the U.S., and in other jurisdictions as agreed upon by the company and underwriters [4]. - The offering is subject to regulatory approvals, including that of the TSX Venture Exchange, and is expected to close around July 29, 2025 [5]. Group 4: Company Overview - Silver Mountain is a Canadian mining company focused on developing silver and polymetallic projects in Peru, with its flagship asset being the Reliquias Project located in a well-established mining district [8].