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Silverco Provides Additional Information on the Agreement to Acquire Nuevo Silver and the La Negra Mine in Querétaro Mexico
Vancouver, British Columbia--(Newsfile Corp. - January 27, 2026) - Silverco Mining Ltd. (TSXV: SI...
About this update from Silverco Mining Ltd.
[{"type":"text","content":"Silverco Provides Additional Information on the Agreement to Acquire Nuevo Silver and the La Negra Mine in Querétaro MexicoVancouver, British Columbia--(Newsfile Corp. - January 27, 2026) - Silverco Mining Ltd. (TSXV: SICO) (\"Silverco\" or the \"Company\") provides further information regarding the previously announced transaction pursuant to the binding letter with Nuevo Silver Inc. (\"Nuevo Silver\"). As previously announced on January 20, 2026, Silverco is proposing to acquire Nuevo Silver (the \"Acquisition\"), which has entered into a Share Purchase Agreement effective January 18, 2026 (\"SPA\") with parties that are arm's length to Silverco and Nuevo Silver (collectively, the \"Vendors\"), to acquire 100% of the La Negra Mine in Querétaro Mexico (the \"La Negra Mine\"), which is a producing silver mine. Nuevo Silver does not currently hold title to the La Negra Mine and it is a condition of closing of the Acquisition that Nuevo Silver complete its purchase of the La Negra Mine. Silverco will also be obtaining a technical report in respect of the La Negra Mine as a condition of closing of the Acquisition. Nico Harvey, VP Project Development of Silverco and a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\") is unaware of any other material scientific or technical information on the La Negra Mine at this time.Nuevo Silver and the Subscription Receipt FinancingNuevo Silver is a corporation existing under the laws of the Province of Ontario. To facilitate the acquisition of the La Negra Mine, Nuevo Silver issued 30,346,280 subscription receipts (each, a \"Subscription Receipt\") at a price of US$1.00 per Subscription Receipt for total gross proceeds of US$30,346,280 (the \"Financing\"). Nuevo Silver has no assets other than cash and its rights to acquire the operating La Negra Mine under the SPA. The Financing was launched on October 3, 2025 and closed in tranches between November 2025 and January 2026, with over US$29,500,000 of the total Financing amount (greater than 97%) completed by December 3, 2025. The aggregate proceeds of the Financing have been deposited into escrow and are being held in trust by a third party pending the satisfaction of certain escrow release conditions (the \"Escrow Release Conditions\") in connection with the a...