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Silver North Announces Closing of Brokered LIFE Private Placement for Gross Proceeds of C$11.6 Million
(TheNewswire) Vancouver, BC, February 10, 2026 – TheNewswire - Silver North Reso...
About this update from Silver North Resources Ltd.
[{"type":"text","content":"Silver North Announces Closing of Brokered LIFE Private Placement for Gross Proceeds of C$11.6 Million\n(TheNewswire)\n\n\nVancouver, BC, February 10, 2026\n– TheNewswire - Silver North Resources Ltd. (TSX-V: SNAG)\n“Silver North” or\nthe “Company”) is pleased\nto announce the closing of its previously announced brokered private\nplacement (the “Offering”)\nfor aggregate gross proceeds of C$11,576,985, which includes the\nexercise in full of the agent’s option. Pursuant to the Offering,\nthe Company sold 4,982,461 units of the Company (the “Units”) at a price of C$0.40 per\nUnit (the “Unit Price”)\nand 17,114,286 flow-through units of the Company that were sold to\ncharitable purchasers (the “Charity\nFT Units”, and together with the Units, the “Offered Securities”) at a price of\nC$0.56 per Charity FT Unit. \n\n\n \n\n\nEach Unit consists of one common share of the Company and one-half of\none common share purchase warrant (each whole warrant, a “Warrant”). Each Charity FT Unit\nconsists of one common share of the Company to be issued as a\n“flow-through share” within the meaning of subsection 66(15) of\nthe Income Tax Act (Canada)\n(each, a “FT Share”) and\none-half of one Warrant. Each whole Warrant entitles the holder to\npurchase one common share of the Company at a price of C$0.56 at any\ntime after April 10, 2026 to February 10, 2029.\n\n\n \n\n\nRed Cloud Securities Inc. (“Red\nCloud”) acted as sole agent and bookrunner in connection with\nthe Offering. As consideration for their services, Red Cloud received\naggregate cash fees of C$810,388.92 and 1,546,772 non-transferable\ncommon share purchase warrants (the “Broker Warrants”). Each Broker Warrant is exercisable to\nacquire one common share of the Company at the Unit Price at any time\non or before February 10, 2029.\n\n\n \n\n\nThe Company intends to use the gross proceeds from the Offering for\nexploration and related programs on the Company’s Haldane and\nVeronica properties in Yukon Territory as well as for working capital\nand general corporate purposes, as is more fully described in the\nAmended Offering Document (as herein defined).\n\n\n \n\n\nThe gross p...