Silver X Mining Closes First Tranche of Non-Brokered Private Placement
SILVER X MINING CORP.
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Silver X Mining Closes First Tranche of Non-Brokered Private Placement
Vancouver, British Columbia, April 4, 2024 - SILVER X MINING CORP. (TSX -V: AGX) (F: AGX) ("Silver X" or the
"Company") announces that the Company has closed the first tranche of its previously announced non-brokered
private placement offering (the "Private Placement") with the placement of 6,156,199 units (the "Units") at a
price of $0.18 per Unit for gross proceeds of $1,108,116.
Each Unit consists of one common share (a “Share”) and one half of one Share purchase warrant (a “Warrant”)
with each whole Warrant entitling the holder to purchase one Share of the Company at a price of $0.30 per Share
for a period of 36 months from the date of closing of the Private Placement (the “Closing Date”).
Proceeds of the Private Placement will be used for capital expenditures and exploration related to the Nueva
Recuperada Silver District in Peru (the “Project”) and potential acquisitions of assets.
All securities issued and issuable in connection with the first tranche closing of the Private Placement are subject
to a statutory hold period expiring on August 5, 2024. The closing of the second tranche is expected shortly as
subscriptions are received. Closing of the Private Placement is subject to receipt of all necessary regulatory
approvals including final acceptance of the TSX Venture Exchange.
Under the first tranche of the Private Placement, the Company paid fees to eligible finders consisting of (i)
$23,629.56 in cash and (ii) 62,982 finder’s warrants (the “Finder’s Warrants) exercisable into one Share at a price
of $0.30, and (iii) 61,633 Finder’s Warrants exercisable into one Share at a price of $0.18. The Finder’s Warrants
are exercisable for a period of 36 months from the Closing Date.
CEO, Jose Garcia, and Vice President, Corporate Development, Sebastian Wahl, (the “Insiders”) have each
expressed an interest in participating in the second tranche of the Offering. The participation by the Insiders of
the Company in the Offering constitutes a related party transactions within the meaning of TSX Venture Exchange
Policy 5.9 and Multilateral Instrument 61 -101 - Protection of Minority Security Holders in Special Transactions
(“MI 61 -101”). Such participation is exempt from the formal valuatio n and minority shareholder approval
requirements in sections 5.5(a) and 5.7(1)(a), as neither the fair market value of the securities issued, nor the
fair market value of the consideration for the securities issued exceeds 25% of the Company's market
capitalization as calculated in accordance with MI 61 -101. A material change report in connection with the
Offering will be filed less than 21 days before the closing of the Offering. This shorter period was reasonable and
necessary in the circumstances as the Company wished to complete the Offering in a timely manner.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United
States. The securities have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities la ws or
an exemption from such registration is available.
About Silver X Mining Corp.
Silver X is a rapidly-expanding silver developer and producer in the Americas. The Company owns the +20,000-
hectare Nueva Recuperada Silver District in Central Peru and produces silver, gold, lead and zinc from the
district’s Tangana Mining Unit. Our mission is to be a premier silver company delivering outstanding value to all
stakeholders and we aim to achieve this by consolidating and developing undervalued assets, creating value by
adding resources and increasing production while aspiring to s ocial and environmental excellence. For more
information visit our website at www.silverxmining.com.
ON BEHALF OF THE BOARD
José M. García
CEO and Director
For further information, please contact:
Investor Relations
T: +1 647 259 6901 x 101
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains forward -looking information within the meaning of applicable Canadian securities
legislation (“forward-looking information”). Generally, forward-looking information can be identified by the use
of forward -looking terminology such as “plan s”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or
variations of such words and phrases or state that certain acts, events or res ults “may”, “could”, “would”,
“might” or “will be taken”, “occur” or “be achieved”. All information contained in this press release, other than
statements of current and historical fact, is forward looking information. Forward-looking information contained
in this press release may include, without limitation, exploration plans, results of operations, expected
performance at the Nueva Recuperada Project (the “Project”), the ability of the new zones at the Project to feed
production at the Company’s Nueva Recuperada Plant in the near term, the Company’s belief that the Tangana
system will provide considerable resource expansion potential, that the Company will be able to mine the
Tangana Mining Unit in an economic manner, the expected financial performance of the Company, the ability of
the Company to complete the proposed Private Placement, if at all, on the proposed terms, and the use of
proceeds of the Private Placement.
The following are some of the assumptions upon which forward -looking information is based: that general
business and economic conditions will not change in a material adverse manner; demand for, and stable or
improving price for the commodities we produce; receipt of regulatory and governmental approvals, permits
and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or
failure of plant or equipment or other material disruption in the Company’s operations at the Project and Nueva
Recuperada Plant; the availability of financing for operations and development; the Company’s ability to procure
equipment and operating supplies in sufficient quantities and on a timely basis; that the estimates of the
resources at the Project and the geological, operational and price assumptions on which these and the
Company’s operations are based are within reasonable bounds of accuracy (including with respect to size, grade
and recovery); the Company’s ability to attract and retain skilled personnel and directors; and the ability of
management to execute strategic goals.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to
be materially different from those expressed or implied by such forward-looking information, including but not
limited to those risks described in the Company’s annual and interim MD&As and in its public documents filed
on www.sedarplus.ca from time to time. Forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made. Although the Company has attempted to identify
important factors that could cause actual results to differ mater ially from those contained in forward -looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate, as actual results and futur e events could
differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance
on forward-looking information. The Company does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.