Silver X Announces Loan Agreement & Management Update
Silver X Mining has secured a loan facility agreement with Trafigura PTE for up to US$1.4 million, available to its wholly owned subsidiary Recuperada S.A.C. The loan has a 25-month tenor with interest based on SOFR plus 6% per annum. The facility will be used for capital expenditures and working capital.
The agreement includes the issuance of 1,500,000 common share purchase warrants to Trafigura's affiliate, Urion Holdings. The warrants will be exercisable for 25 months at a 25% premium to the 20-day VWAP of Silver X's shares. The company also announced the retirement of COO Freddy Mayor, with CEO Jose M. Garcia temporarily assuming COO responsibilities.
Silver X Mining ha assicurato un accordo di prestito con Trafigura PTE fino a 1,4 milioni di dollari USA, disponibile per la sua controllata interamente posseduta Recuperada S.A.C. Il prestito ha una durata di 25 mesi con un tasso di interesse basato su SOFR più il 6% annuo. La somma sarà utilizzata per spese in conto capitale e capitale circolante.
L'accordo prevede l'emissione di 1.500.000 warrant per l'acquisto di azioni ordinarie a favore dell'affiliata di Trafigura, Urion Holdings. I warrant saranno esercitabili per 25 mesi con un premio del 25% rispetto al VWAP delle azioni di Silver X calcolato su 20 giorni. L'azienda ha anche annunciato il ritiro del COO Freddy Mayor, con il CEO Jose M. Garcia che assumerà temporaneamente le responsabilità di COO.
Silver X Mining ha asegurado un acuerdo de préstamo con Trafigura PTE por hasta 1,4 millones de dólares estadounidenses, disponible para su filial de propiedad total Recuperada S.A.C. El préstamo tiene un plazo de 25 meses con un interés basado en SOFR más el 6% anual. La financiación se utilizará para gastos de capital y capital de trabajo.
El acuerdo incluye la emisión de 1.500.000 opciones de compra de acciones comunes a la afiliada de Trafigura, Urion Holdings. Las opciones se podrán ejercer durante 25 meses con una prima del 25% sobre el VWAP de 20 días de las acciones de Silver X. La compañía también anunció la jubilación del COO Freddy Mayor, con el CEO Jose M. Garcia asumiendo temporalmente las responsabilidades de COO.
실버 X 마이닝은 트라피구라 PTE와 최대 140만 달러의 대출 계약을 체결하였으며, 이는 전액 소유 자회사인 Recuperada S.A.C.에 제공됩니다. 이 대출은 25개월의 만기를 가지며, 이자는 SOFR에 연 6%가 더해진 금리로 책정됩니다. 이 자금은 자본 지출과 운영 자본에 사용될 것입니다.
계약에는 트라피구라의 계열사인 Urion Holdings에 1,500,000개의 보통주 매수 워런트를 발행하는 내용이 포함되어 있습니다. 이 워런트는 실버 X의 주식 20일 기준 VWAP의 25% 프리미엄으로 25개월 동안 행사할 수 있습니다. 또한, 회사는 COO인 프레디 메이요의 퇴직을 발표했으며, CEO인 호세 M. 가르시아가 COO의 책임을 임시로 맡게 됩니다.
Silver X Mining a sécurisé un accord de prêt avec Trafigura PTE pour un montant allant jusqu'à 1,4 million de dollars américains, disponible pour sa filiale à 100%, Recuperada S.A.C. Le prêt a une durée de 25 mois avec des intérêts basés sur le SOFR plus 6% par an. Les fonds seront utilisés pour des dépenses d'investissement et du fonds de roulement.
L'accord comprend l'émission de 1 500 000 bons de souscription d'actions ordinaires à l'affilié de Trafigura, Urion Holdings. Les bons pourront être exercés pendant 25 mois avec une prime de 25% par rapport au VWAP des actions de Silver X sur 20 jours. La société a également annoncé le départ à la retraite du COO Freddy Mayor, le PDG Jose M. Garcia assumant temporairement les responsabilités de COO.
Silver X Mining hat eine Darlehensvereinbarung mit Trafigura PTE über bis zu 1,4 Millionen US-Dollar gesichert, die seiner hundertprozentigen Tochtergesellschaft Recuperada S.A.C. zur Verfügung steht. Das Darlehen hat eine Laufzeit von 25 Monaten und die Zinsen basieren auf SOFR zuzüglich 6% pro Jahr. Die Mittel werden für Investitionsausgaben und Betriebskapital verwendet.
Die Vereinbarung beinhaltet die Ausgabe von 1.500.000 Kaufwarrants auf Stammaktien an die Tochtergesellschaft von Trafigura, Urion Holdings. Die Warrants können über 25 Monate mit einem Aufschlag von 25% auf den 20-Tage-VWAP der Aktien von Silver X ausgeübt werden. Das Unternehmen gab außerdem die Pensionierung des COO Freddy Mayor bekannt, wobei CEO Jose M. Garcia vorübergehend die COO-Verantwortung übernimmt.
- Secured US$1.4 million loan facility for capital expenditures and working capital
- Partnership with global commodity trading leader Trafigura
- Share dilution potential through 1.5 million warrant issuance
- Loss of key executive (COO) with interim replacement by CEO
VANCOUVER, BC / ACCESS Newswire / February 19, 2025 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(FRA:AGX) ("Silver X" or the "Company"), a rapidly growing Peruvian silver producer-developer, is pleased to announce the execution of a loan facility agreement with Trafigura PTE Ltd. ("Trafigura"), a global leader in commodity trading.
The loan provided to Recuperada S.A.C. ("Recuperada"), a wholly owned subsidiary of Silver X, will be used for capital expenditures and working capital. Under the loan facility an amount of up to US
As part of the loan facility, Silver X will also issue a loan bonus of 1,500,000 common share purchase warrants (the "Warrants") of the Company to an affiliate of Trafigura, Urion Holdings (Malta) Limited. The Warrants are subject to a hold period, under Canadian securities laws, expiring four months and one day from the date of issuance, exercisable for an equivalent of common shares for a period of 25 months at a
Management Update
Silver X announces the retirement of Freddy Mayor, its Chief Operating Officer (COO), who played an important role overseeing operational strategies driving the Company's growth. Silver X CEO, Jose M. Garcia, remarked, "Freddy's expertise and commitment have been invaluable in bringing the Tangana Mining Unit into commercial production and advancing the development of the Nueva Recuperada Project. We are thankful and extremely grateful to Freddy for his dedication and contributions. On behalf of the Board of Directors and our entire staff, I wish Freddy the very best in his retirement. In the interim, I will assume the responsibilities of COO, as we continue aligning our resources with our strategic goals, focusing on increasing production and profitability."
About Silver X Mining Corp.
Silver X is a rapidly growing silver producer-developer. The Company owns the 20,472-hectare Nueva Recuperada Silver Project in Central Peru and produces silver, gold, lead and zinc from its Tangana Mining Unit. Silver X is building a premier silver company aiming to deliver outstanding value to all stakeholders, consolidating and developing undervalued assets, adding resources, and increasing production while aspiring to sustain the communities that support us and stewarding the environment. Current production, paired with immediate development and brownfield expansion opportunities, present investors with the opportunity to invest in the early stages of a silver producer with strong growth prospects. 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:
Susan Xu
Investor Relations
ir@silverxmining.com
+1 778 323 0959
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 press 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 "plans", "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 results "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, TSX Venture Exchange and regulatory approvals for the loan facility agreement, use of proceeds from the loan facility agreement, exploration plans, results of operations, expected performance at the Project, expectations related to production and profitability of the Company's mining assets, 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, and the expected financial performance of the Company.
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 materially 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 future 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.
SOURCE: Silver X Mining Corp.
View the original press release on ACCESS Newswire
FAQ
What are the terms of Silver X Mining's (AGXPF) loan agreement with Trafigura?
How will Silver X Mining (AGXPF) use the US$1.4 million loan from Trafigura?
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