On March 18, 2026, Silver X Mining Corp., a Vancouver-based silver producer focused on its Nueva Recuperada Project in Peru, closed a brokered private placement of 10 percent secured convertible debentures for aggregate gross proceeds of C$69 million. The offering was conducted on a "best efforts" agency basis, with Ventum Financial Corp. acting as sole agent and sole bookrunner. The company issued an aggregate of 69,000 debentures at an issue price of $1,000 per debenture, reflecting the full exercise of the agent's 15 percent over-allotment option, which upsized the offering from the originally announced $60 million by $9 million in response to strong investor demand. The debentures bear interest at a fixed rate of 10 percent per annum, payable semi-annually, and mature on March 18, 2031, five years from the closing date. For the first 24 months, Silver X may elect to pay interest in cash or in common shares at its discretion; thereafter, interest is payable in cash. The principal amount is convertible, at the election of the holder, into common shares at a conversion price of $1.62 per share, subject to customary anti-dilution adjustments. The debentures are secured by a substantial portion of the company's assets, including assets of its subsidiaries, through Peruvian trust structures and Canadian guarantees. The agent received a cash commission equal to 6 percent of gross proceeds. Net proceeds will fund development capital expenditures at the Nueva Recuperada Project, working capital and general corporate purposes.