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Southern Silver Exploration Corp. (TSXV:SSV), a mineral exploration and development firm specializing in silver, lead, zinc, gold, and copper projects across Mexico and the United States, has announced its contract with ICP Securities Inc. to deliver automated market making services for its TSX Venture Exchange-listed shares. This agreement, effective July 15, 2026, entails a monthly fee of C$7,500 plus applicable taxes and spans an initial four-month period. ICP Securities will utilize its proprietary ICP Premium4 algorithm to address temporary supply and demand imbalances of SSV shares, adhering strictly to TSX Venture Exchange regulations and relevant laws.
Key Highlights
- Southern Silver Exploration Corp. (TSXV:SSV) has appointed ICP Securities Inc. for automated market making services effective July 15, 2026.
- ICP will deploy its proprietary ICP Premium4 algorithm to manage temporary supply and demand discrepancies in SSV shares in full compliance with TSX Venture Exchange policies.
- The contract carries a monthly fee of C$7,500 plus taxes, with an initial term of four months and automatic monthly renewals unless terminated with 30 days' written notice.
- The agreement excludes performance incentives, stock options, or other compensation beyond the stated fee; ICP operates as an independent third party to Southern Silver.
Details of ICP Securities’ Market Making Agreement with Southern Silver
Southern Silver Exploration Corp. revealed that its agreement with ICP Securities Inc. commences on July 15, 2026, with an initial four-month term. Post this period, the contract renews automatically on a monthly basis. Either party may terminate the agreement by providing a minimum of 30 days’ written notice before the end of the initial term or any subsequent renewal period.
The company confirmed ICP will receive a monthly retainer of C$7,500 plus applicable taxes throughout the engagement. The agreement explicitly contains no performance-based conditions or equity compensation such as stock options. ICP is identified as an arm’s length entity, indicating no affiliated or related-party relationship with Southern Silver under TSX Venture Exchange rules.
ICP Securities’ Market Making Role for SSV Shares
According to the announcement, ICP’s market making efforts will primarily focus on rectifying temporary imbalances between supply and demand for Southern Silver’s shares. This recognized market function involves a designated market maker posting bids and offers to reduce friction caused when buyers and sellers are not simultaneously present at matching prices.
The release states ICP will bear all costs related to purchasing and selling SSV shares, with no third-party funding or securities supporting these activities. This setup confines market making to ICP’s proprietary resources and infrastructure. Additionally, ICP and its clients may acquire interests in Southern Silver securities in the future, a standard regulatory disclosure.
ICP Premium4 Algorithm and ICP Securities Overview
ICP Securities Inc., based in Toronto, is a CIRO dealer-member specializing in automated market making and liquidity provision. Founded in 2023, ICP focuses on market structure, execution, and trading services for public issuers and institutional investors. CIRO (Canadian Investment Regulatory Organization) is the national self-regulatory organization overseeing investment dealers in Canada, and ICP’s dealer-member status confirms regulatory compliance.
Central to this engagement is ICP’s proprietary ICP Premium4 algorithm, designed to enhance liquidity and improve quote quality for listed securities. The company has leveraged its proprietary technology to offer liquidity provision and execution services to a wide client base. Automated algorithm-driven market making is increasingly prevalent among smaller-cap issuers on the TSX Venture Exchange, where trading volumes may be less consistent than on larger exchanges.
Southern Silver’s Cerro Las Minitas Silver-Lead-Zinc Project in Mexico
Southern Silver Exploration Corp. focuses on discovering world-class mineral deposits through direct ownership or joint ventures. Its flagship asset is the 100%-owned Cerro Las Minitas silver-lead-zinc project, situated in Mexico’s prolific Faja de Plata mineral belt, which also hosts major deposits like Pe F1asquito, Los Gatos, San Mart EDn, Naica, and Pitarrilla.
The Cerro Las Minitas project is characterized as a high-grade silver-lead-zinc development opportunity. Additionally, Southern Silver holds the recently acquired Nazas gold-silver property in the same Mexican state, expanding its portfolio. The company has assembled a skilled team of technical, operational, and transactional experts to advance Cerro Las Minitas toward becoming a premier high-grade mine.
Southern Silver’s U.S. Mineral Assets in New Mexico
Southern Silver’s portfolio extends into the southern United States, with two projects in southern New Mexico: the Oro porphyry copper-gold project and the Hermanas gold-silver vein project. Permitting applications for drilling programs at both sites are currently underway.
These copper-gold and gold-silver vein projects reflect Southern Silver’s focus on multiple commodities and deposit types across key mining jurisdictions. The announcement does not include resource estimates, drilling outcomes, or capital expenditure details for these U.S. projects, as such information lies outside the scope of the market making disclosure.
Qualified Person Statement and Regulatory Compliance
The announcement includes a qualified person statement per National Instrument 43-101, the Canadian standard for scientific and technical mineral project disclosures. Robert Macdonald, MSc., P.Geo., is identified as the Qualified Person overseeing data collection at Cerro Las Minitas and approving the technical content.
The release also contains the standard TSX Venture Exchange disclaimer, clarifying that neither the exchange nor its Regulation Services Provider guarantees the announcement’s accuracy or adequacy. This regulatory language is routine for TSX Venture-listed issuers and does not indicate any specific concerns. The market making engagement will be conducted in full compliance with TSX Venture Exchange policies and applicable laws.
Forward-Looking Statements and Associated Risks
The release features forward-looking statements regarding the timing, duration, and costs of ICP’s engagement, as well as expected benefits from market making services. These statements rely on assumptions about economic conditions, interest rates, commodity markets, regulatory approvals, and financing availability.
Southern Silver cautions that actual results may differ materially due to risks including timing and receipt of government approvals, capital availability, and broader economic or market conditions. Investors should consider these risk factors in relation to both the market making arrangement and the company’s overall exploration and development activities.
Fee Structure and Absence of Equity-Based Compensation
The compensation arrangement with ICP Securities is notable for excluding stock options or equity incentives, involving only a monthly cash fee of C$7,500 plus taxes. This absence of equity compensation eliminates potential dilution concerns for shareholders related to service provider agreements.
The disclosure also confirms no third-party funding or securities will support ICP’s market making activities, ensuring ICP uses its own capital and resources. This aligns with the arm’s length relationship between Southern Silver and ICP Securities.
Automatic Renewal and Termination Notice Provisions
The agreement includes an automatic renewal clause: after the initial four-month term starting July 15, 2026, it renews monthly unless either party provides at least 30 days’ written notice before the term’s end to terminate. Without such notice, the arrangement continues with monthly fees of C$7,500 plus taxes.
The release does not specify automatic termination conditions beyond the notice requirement, nor does it mention penalties or exit fees for early termination.
