Silverco Announces $40 Million "Bought Deal" Offering

About this update from Silverco Mining Ltd.

[{"type":"text","content":"Silverco Announces $40 Million \"Bought Deal\" OfferingVancouver, British Columbia--(Newsfile Corp. - January 29, 2026) - Silverco Mining Ltd. (TSXV: SICO) (\"Silverco\" or the \"Company\") is pleased to announce that it has entered into an agreement with Velocity Capital Partners (\"Velocity\"), as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters (collectively, with Velocity, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on a \"bought deal\" basis, 3,200,000 common shares of the Company (the \"Offered Shares\") at a price of $12.50 per Offered Share (the \"Issue Price\") for aggregate gross proceeds to the Company of $40 million (the \"Offering\").The Offered Shares will be offered in each of the Provinces and Territories of Canada (other than Québec) in reliance on the \"listed issuer financing exemption\" from the prospectus requirements available under National Instrument 45-106 − Prospectus Exemptions (\"NI 45-106\"), as modified by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\"). The Offered Shares may also be offered on a private placement basis in such offshore jurisdictions may be mutually agreed between the Company and Velocity, provided it is understood that no prospectus filing or comparable obligation, ongoing reporting or continuous disclosure requirement or requisite regulatory or governmental approval arises in such jurisdictions, and the United States pursuant to an exemption from the registration requirements of the United States Securities Act of 1933 (the \"U.S. Securities Act\"), as amended. Any such Offered Shares will be characterized as \"restricted securities\" under the U.S. Securities Act.In addition, the Company has granted the Underwriters an option to purchase for resale up to an additional 480,000 Offered Shares under the Listed Issuer Financing Exemption at the Issue Price for additional gross proceeds of up to $6 million, on the same terms and conditions as set out herein, exercisable in whole or in part at any time up to 48 hours prior to the Closing Date.The net proceeds of the Offering will be used by the Company for exploration, evaluation and restart work on the Cusi Project, general and...

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