Silver North Resources Ltd. (OTCQB: TARSF) completed a brokered private placement on February 10 2026 that raised C$11,576,985 in gross proceeds. The offering sold 4,982,461 common‑share units at C$0.40 each and 17,114,286 flow‑through units to charitable purchasers at C$0.56 each, giving the company a significant working‑capital boost.
The proceeds will be directed toward drilling and related programs at the company’s Haldane and Veronica (GDR) properties in the Yukon, as well as for general corporate purposes. The flow‑through units will allow the company to incur eligible Canadian exploration expenses that qualify as flow‑through mining expenditures, providing tax benefits to the charitable investors.
The financing expands Silver North’s liquidity base by C$11.6 million, enabling continued exploration in high‑grade silver districts. The Haldane property sits adjacent to Hecla Mining’s Keno Hill Silver Mine, while the Veronica property lies in the emerging Silvertip CRD district, both of which have recently produced high‑grade silver intercepts that reinforce the company’s exploration upside.
Despite the capital raise, the company’s auditor, De Visser Gray, raised a “going‑concern” concern in the annual report filed in January 2026, highlighting potential financial sustainability challenges. The infusion of capital is therefore critical to maintaining the company’s ability to fund its drilling program and to address the headwinds identified in the audit opinion.
Silver North has conducted several prior private placements to support its exploration activities, and the flow‑through structure of this offering aligns with the company’s strategy to attract tax‑efficient investors while securing the necessary funds for its Yukon projects. The new capital will help the company pursue its planned drilling schedule for 2025 and beyond, while the going‑concern note underscores the importance of disciplined cash‑flow management and continued exploration success.
Overall, the private placement positions Silver North to advance its high‑grade silver assets, but the company remains under financial pressure, and the success of its upcoming drilling programs will be pivotal in sustaining its growth trajectory.
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