Alaska Silver Announces Closing of US$13.8 Million Offering

Executive Summary

• Alaska Silver Corp. closed a public offering of 21,229,000 units at US $0.65 per unit, generating gross proceeds of US $13,798,850.
• The net proceeds are earmarked for mineral exploration on the Illinois Creek Project, repayment of existing debt, and general working capital.
• Underwriters received an underwriting discount of US $1,034,913.75 and were issued warrants to purchase up to 849,160 subordinate voting shares at US $0.97 per share.

Key Details

• Offering Size: 21,229,000 units (each unit = one subordinate voting share + one warrant).
• Price per Unit: US $0.65.
• Gross Proceeds: US $13,798,850.
• Lead Manager: Cantor Fitzgerald & Co.; syndicate included Canaccord Genuity Corp., ATB Capital Markets Inc., and Agentis Capital Markets (First Nations Financial Markets LP).
• Warrant Terms (Units): Each warrant exercisable for one subordinate voting share at US $0.97, valid for three years from the closing date.
• Over‑Allotment: Full over‑allotment option was exercised.
• Underwriting Discount Paid: US $1,034,913.75.
• Underwriters’ Warrants: Up to 849,160 subordinate voting shares; exercise price US $0.97; exercisable starting 180 days after the pricing date (Sept 30 2025) through 18 months thereafter.
• Use of Proceeds: Fund mineral exploration activities at the Illinois Creek Project, repay certain outstanding debt, and provide general working capital.
• Regulatory Exemptions: Offering relied on listed issuer financing exemption in Canada (excluding Quebec), U.S. registration statement, and other jurisdictional exemptions; no hold period on units.

Notable Quotes

• “The successful completion of this offering provides us with the capital needed to advance our exploration program at Illinois Creek while strengthening our balance sheet,” – Kit Marrs, President & CEO.