Canadian miner Silver North Resources has closed its non-brokered private placement, raising C$370,050 ($268,235) for the exploration and development of its Yukon assets.
The company issued 2.4 million units at C$0.15 each. Each unit consists of one common share and half of a common share purchase warrant of the company.
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Holders of the warrants will have the option to acquire one common share for a period of 48 months from the issuance date, at an exercise price of C$0.35 per share.
In relation to this placement, finder’s fees totalling C$10,404 in cash and 69,360 finder’s warrants were allocated to qualified parties.
Each finder’s warrant permits the holder to purchase one common share at a price of $0.15 for two years following the closing date.
All securities issued in this offering are subject to a hold period of four months from the closing date.
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By GlobalDataThe funds raised from the units will be used for general administrative costs and to advance the company’s project pipeline.
Silver North holds full ownership of the Haldane Silver Project, situated adjacent to Hecla Mining’s Keno Hill Mine project in the Keno Hill District of Yukon.
Additionally, the company has operates the Tim Silver Project, currently under option to Coeur Mining, in the Silvertip/Midway District across British Columbia and Yukon, as well as the GDR project in the same district.
Silver North is also looking to expand its portfolio by acquiring more silver properties in advantageous regions.
Furthermore, the company’s flow-through unit offering, announced in June 2025, has been fully subscribed, raising C$2.1m through the sale of units at C$0.21 each.
The offering, expected to close by mid-August, includes one common share and a half warrant per unit, qualifying as “flow-through shares” under the Canadian Income Tax Act.
