Silver One Announces Closing of First Tranche for $31 Million
Silver One Announces Closing of First
Tranche for $31 Million
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2026) - Silver One Resources Inc. (TSXV:
SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce that it
has closed its first tranche of its previously announced non-brokered private placement financing (see
news release dated January 13, 2026 and January 14, 2026). The Company issued 53,583,000 units of
the Company (the "Units") at a price of $0.58 per Unit for aggregate gross proceeds of $31,078,140 (the
"Offering").
The Company expects to close the final tranche of $922,200 shorlty.
"
Management is very pleased with the enthusiastic response to the Offering. Eric Sprott subscribed for
approximately $10 million of the $32 million placement and now holds approximately 16.0% of the
issued and outstanding shares. We also welcome other new institutions into the shareholder register.
This is a strong show of support for our company and its silver-focused projects.
"The Company plans to move aggressively with more exploration drilling at all our projects, especially
regarding the potential to increase the in-ground mineralization marginal to the two open-pits at
Candelaria. We will be continuing our heap pad drilling, sampling and metallurgical studies in
preparation for our upcoming pre-feasibility study
," stated Greg Crowe, Chief Executive Officer of the
Company.
Each Unit consists of one (1) common share ("Share") and one-half (1/2) of one common share
purchase warrant (each whole share purchase warrant, a "Warrant"), with each whole Warrant entitling
the holder to purchase one (1) additional common share (a "Warrant Share") at $0.80 per Warrant
Share for a period of three years from the date of issue.
The securities issued under the Offering to Canadian subscribers are not subject to a hold period in
Canada as the Units were offered pursuant to Part 5A of National Instrument 45-106 -
Prospectus
Exemptions
, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions
of the Listed Issuer Financing Exemption, to purchasers resident in Canada (other than the province of
Quebec).
Under the Offering, the Company paid a finders' a cash fee of $1,779,464.
No finder's
warrants were issued.
The net proceeds of the Offering will be used on (i) its drilling program at the Candelaria Project; (ii)
certain exploration and geophysics work at its mineral properties; (iii) metallurgical and environmental
work at the Candelaria Project, (iv) preparing a pre-feasibility study on the Candelaria Project; (v) annual
mineral claim payments to the Bureau of Land Management; (vi) exploration drilling at the Company's
mineral properties and (vii) general working capital purposes.
Eric Sprott Increases Ownership
Mr. Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 17,240,000
Units pursuant to the Offering for total consideration of $9,999,200. Prior to the Offering, Mr. Sprott
beneficially owned or controlled 37,873,016 Shares of the Company representing approximately 13.0%
of the outstanding common shares of the Company. As a result of the Offering, Mr. Sprott beneficially
owns or controls 55,113,016 Shares and 8,620,000 Warrants of the Company representing
approximately 16.0% on a non-diluted basis and 18.0% on a partially diluted basis assuming the
exercise of such Warrants.
The Units were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the
investment and may acquire additional securities of Silver One including on the open market or through
private acquisitions or sell securities of Silver One including on the open market or through private
dispositions in the future depending on market conditions, reformulation of plans and/or other relevant
factors.
A copy of the early warning report with respect to the foregoing will appear on Silver One's profile on
SEDAR+ at
www.sedarplus.ca
and may also be obtained by calling Mr. Sprott's office at (416) 945-
3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto Ontario M5C 3C5).
This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be
any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be
unlawful, including the United States of America. The securities being offered as part of the Offering 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 accordingly may not be offered or sold in the
United States except in compliance with the registration requirements of the U.S. Securities Act and any
applicable state securities laws, or pursuant to available exemptions therefrom.
About Silver One
Silver One is focused on the exploration and development of quality silver projects.
The Company holds
a 100%-interest in its flagship project, the past-producing Candelaria Mine located in Nevada.
Potential
reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible
near-term production.
Additional opportunities lie in previously identified high-grade silver intercepts
down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-
producing open pits.
The Company has staked 636 lode claims and entered into a Lease/Purchase Agreement to acquire
five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-
copper-gold vein systems, traced to date for over 11 km along-strike.
Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very
high-grade native silver prospect that lies within the "Arizona Silver Belt", immediately adjacent to the
prolific copper producing area of Globe, Arizona.
For more information, please contact:
Silver One Resources Inc.
Gary Lindsey - VP, Investor Relations
Phone: 604-974-5274
Mobile:
(720) 273-6224
Email:
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on
assumptions as of the date of this news release. These statements reflect management's current
estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver
One cautions that all forward-looking statements are inherently uncertain, and that actual performance
may be affected by a number of material factors, many of which are beyond Silver One's control. Such
factors include, among other things: risks and uncertainties relating to Silver One's limited operating
history, ability to obtain sufficient financing to carry out its exploration and development objectives on its
mineral properties, obtaining the necessary permits to carry out its activities and the need to comply with
environmental and governmental regulations. Accordingly, actual and future events, conditions and
results may differ materially from the estimates, beliefs, intentions and expectations expressed or
implied in the forward-looking information. Except as required under applicable securities legislation,
Silver One undertakes no obligation to publicly update or revise forward-looking information.
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