Silver X Mining Closes C$69M Brokered Private Placement of Secured Convertible Debentures

Core Viewpoint - Silver X Mining Corp. successfully closed a brokered private placement of secured convertible debentures, raising C$69 million to support its growth strategy and project development in South America [1][3]. Group 1: Offering Details - The company issued 69,000 debentures at an issue price of C$1,000 each, with a 15% increase in offering size due to strong investor demand, raising an additional C$9 million [2]. - The offering was conducted on a "best efforts" basis with Ventum Financial Corp. as the sole agent and bookrunner [2]. - The principal amount of the debentures will bear a fixed interest rate of 10% per annum, payable semi-annually, maturing five years from the issuance date [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for development capital expenditures, working capital, and general corporate purposes [5]. Group 3: Security and Conversion - The debentures are secured by a substantial portion of the company's assets, including those of its subsidiaries, and are backed by trust structures in Peru [6]. - Holders of the debentures can convert them into common shares at a price of C$1.62 per share, subject to anti-dilution adjustments [4]. Group 4: Company Overview - Silver X is focused on advancing the Nueva Recuperada Project in Peru, which encompasses a 20,795-hectare land package with significant production potential [9]. - The company aims to scale production and explore new opportunities, targeting approximately 6 million AgEq ounces [9].