On November 18, 2025, Silver Mountain Resources Inc. completed a bought deal public offering of 11,500,000 units at a price of $2.60 per unit for aggregate gross proceeds of $29.9 million, which included the exercise in full of the underwriters’ over-allotment option. Each unit was comprised of (i) one common share; (ii) one-half of one 6-month common share purchase warrant (each whole warrant, a “Series A Warrant”); and (iii) one-half of one 24-month common share purchase warrant (each whole warrant, a “Series B Warrant”). Each Series A Warrant entitles the holder to acquire one common share at an exercise price of $3.25 until May 18, 2026, and each Series B Warrant entitles the holder to acquire one common share at an exercise price of $3.90 until November 18, 2027.
The offering was conducted by a syndicate of underwriters including Velocity Capital Partners, as sole bookrunner, and as co-lead underwriters with SCP Resource Finance LP, together with Research Capital Corporation and Stifel Nicolaus Canada Inc.
Cassels acted for the underwriters.