Silver North Resources Closes Brokered Private Placement for C$11,576,985
Vancouver, BC — February 10, 2026 — Leads & Copy — Silver North Resources Ltd. (TSX-V: SNAG) has announced the closing of its previously announced brokered private placement for gross proceeds of C$11,576,985, which includes the exercise in full of the agent’s option.
The offering involved the sale of 4,982,461 units at C$0.40 per unit and 17,114,286 flow-through units to charitable purchasers at C$0.56 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each flow-through unit consists of one common share issued as a “flow-through share” and one-half of one warrant. Each whole warrant allows the holder to purchase one common share at C$0.56 any time after April 10, 2026, to February 10, 2029.
Red Cloud Securities Inc. acted as sole agent and bookrunner for the offering. Red Cloud received C$810,388.92 in cash fees and 1,546,772 non-transferable common share purchase warrants as consideration for their services. Each broker warrant is exercisable to acquire one common share at the unit price on or before February 10, 2029.
Silver North intends to use the gross proceeds from the offering for exploration and related programs on its Haldane and Veronica properties in Yukon Territory, as well as for working capital and general corporate purposes, as detailed in the amended offering document.
The gross proceeds from the sale of charity flow-through units will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” related to the company’s Haldane and GDR projects on or before December 31, 2027. All qualifying expenditures will be renounced in favor of the subscribers of the charity flow-through units effective December 31, 2026. The company will indemnify each charity flow-through unit subscriber for any additional taxes payable if the qualifying expenditures are reduced by the Canada Revenue Agency.
A total of 15,696,747 offered securities were issued to Canadian purchasers under the listed issuer financing exemption. The securities from the sale of these LIFE Securities are immediately freely tradeable. 6,400,000 charity flow-through units were issued under exemptions other than the Listed Issuer Financing Exemption. The securities from these Charity FT Units are subject to a hold period in Canada ending on June 11, 2026.
The amended and restated offering document is available on SEDAR+ and on the company’s website.
The closing of the offering remains subject to the final approval of the TSX Venture Exchange.
Silver North’s primary assets are its 100% owned Haldane Silver Project, the Tim Silver Project (under option to Coeur Mining, Inc.), and the GDR (Veronica) project. Silver North also plans to acquire additional silver properties.
The company is listed on the TSX Venture Exchange under the symbol “SNAG”, trades on the OTCQB market under the symbol “TARSF”, and on the Frankfurt Stock Exchange under the symbol “I90”.
Source: Silver North Resources Ltd.
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