Silver Viper aims to raise $12 million from private placement financing
Silver Viper Minerals Corp. [VIPR-TSXV, VIPRF-OTCQB], a company focused on precious metals projects in Mexico, said it intends to raise $12 million from a private placement financing and will use the proceeds for working capital requirements and other general corporate purposes.
Silver Viper’s portfolio includes the La Virginia gold-silver project in Sonora, the Cimarron gold-copper project in Sinaloa and the recently announced Coneto silver-gold project acquisition in Durango. Silver Viper agreed to acquire a 100% ownership stake in Coneto from Orex Minerals Inc. [REX-TSXV] and Fresnillo Plc in a deal that was announced on October 28, 2025.
The private placement will consist of 15 million units priced at 80 cents per unit, with each unit consisting of one common share and one warrant. Each warrant will entitle the holder to acquire one share at a price of $1.20 per share for 24 months from the issue date.
The expiry date of the warrants may be accelerated at any time following the closing date and prior to the expiry date of the warrants if the volume weighted trading price of the common shares is greater than $1.40 for any 20 consecutive trading days.
Closing is expected to occur on December 10, 2025.
In a press release on July 11, 2025, Silver Viper said it had closed a $3.6 million non-brokered private placement financing consisting of 11.9 million units priced at 30 cents per unit. It said proceeds were earmarked for drilling and other exploration activities at La Virginia.
The company said financier Eric Sprott, through an Ontario numbered company, acquired 1.51 million units for $455,000, a move that raised his interest in Silver Viper to 4.85 million common shares and 2.4 million warrants, representing 7.3% on a non-diluted basis and 10.6% on a fully diluted basis. He had previously held 6.2% non-diluted and 9.0% fully diluted.
La Virginia is located 220 kilometres east-northeast of Hermosillo, Sonora and is prospective for low-sulphidation precious metals mineralization. Gold and silver mineralization at La Virginia occurs within breccias, veins and stockworks, hosted by andesitic volcanics, often in close special association to, or cross cutting pre-mineral dacite dykes and controlled by fractures and faults that define the regional structural trend. The company is operator and 100% owner of the La Virginia project which covers a surface area covers 6,882 hectares.
The Cimarron project is located is situated on a prolific porphyry belt that stretches from Arizona to Jalisco, and is situated between Mazatlan and Rosario in Sinaloa. The property is accessible via an 11-kilometre dirt road from a nearby paved road. An electric line passes one kilometre south of the property.
On Wednesday, Silver Viper shares eased 7.1% or $0.07 to 91 cents. The shares trade in a 52-week range of $1.31 and 16.5 cents.