Silver47 closes $23-million private placement

Executive Summary

• Silver47 Exploration Corp. closed a brokered private placement of units for gross proceeds of $23,000,460, including full exercise of the overallotment option.
• Units were priced at $0.70 per unit and each unit consists of one common share plus half of a common‑share purchase warrant (exercisable at $1.00 until 16 Sept 2028).
• Net proceeds will be used for further exploration work on the company’s projects and general working capital.

Key Details

• Offering Structure: 33,000,657 units sold at $0.70 per unit; includes full overallotment exercised.
• Lead Underwriter & Syndicate: Research Capital Corp. (lead agent/sole bookrunner) with Eventus Capital Corp. and Haywood Securities Inc. as participating agents.
• Warrant Terms: Each unit includes ½ of a common‑share purchase warrant; warrants exercisable at $1.00 per share until 16 Sept 2028.
• Broker Warrants to Agents: 1,704,536 broker warrants issued to agents (exercisable at $0.70 per share until 16 Sept 2028).
• Commission & Advisory Fees Paid:
• Cash commission to agents: $1,193,175.
• Advisory fee: $179,342.80 plus tax.
• Advisory warrants issued: 256,204 (same terms as broker warrants).
• Related Party Transaction: One director purchased 100,000 units for $70,000; deemed a related‑party transaction under TSX Venture Exchange policies but within exemption limits (<25% market cap). No material non‑public information known.
• Use of Proceeds: Primarily to fund additional exploration activities on Silver47’s Alaska, Nevada, and New Mexico projects and for general working capital.
• Regulatory Exemptions: Offering relied on the Listed Issuer Financing Exemption (LIFE) under NI 45‑106; securities not subject to a hold period except those sold to the director (hold expires 17 Jan 2026).

Notable Quotes

(No direct quotes were provided in the release.)