On April 12, 2024, Silver X Mining Corp. closed the transaction. The company has issued 21,621,577 units at a price of CAD 0.18 per unit for gross proceeds of CAD 3,891,883.86 in its second and final tranche closing.

In total, the company has issued 27,777,776 units for aggregate gross proceeds of CAD 5,000,000 in the transaction. Under the second tranche of the Private Placement, the company paid fees to eligible finders consisting of CAD 52,153.65 in cash and 272,963 finder?s warrants exercisable into one share at a price of CAD 0.30, and 16,668 finder?s warrants exercisable into one share at a price of CAD 0.18. The finder?s warrants are exercisable for a period of 36 months from the closing date.

All securities issued and issuable in connection with the second tranche closing of the Private Placement are subject to a statutory hold period expiring on August 13, 2024. Closing of the Private Placement is subject to receipt of all necessary regulatory approvals including final acceptance of the TSX Venture Exchange. Jose M. Garcia and Sebastian Wahl have each participated for a total of approximately CAD 2,273,009 worth of units in the second tranche of the Private Placement.

The company raised CAD 376,329.655 pursuant to Regulation D in the transaction from 9 investors.