Silver47 Announces Upsize of Brokered LIFE Financing to $20 Million

Core Viewpoint - Silver47 Exploration Corp. has announced an increase in its brokered private placement offering to up to 28,572,000 units at a price of $0.70 per unit, aiming for gross proceeds of up to $20,000,400 due to strong investor demand [1][2]. Offering Details - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at $1.00 per share for 36 months [2]. - The company has granted the agents an option to increase the offering size by up to $3,000,060, potentially raising total gross proceeds to $23,000,460 if fully exercised [3]. Regulatory Compliance - The offering is being conducted in compliance with National Instrument 45-106, allowing sales to purchasers in all Canadian provinces except Quebec, under the "listed issuer financing exemption" [4]. Use of Proceeds - The net proceeds from the offering will be utilized for further exploration work on the company's projects and for general working capital purposes [2]. Closing Timeline - The company expects to close the offering around September 16, 2025, subject to regulatory approvals and the approval of the TSX Venture Exchange [6]. Agent Compensation - The company will pay the agents a cash commission of 6% of the gross proceeds and issue broker warrants exercisable for 36 months, equal to 6% of the units sold [7]. Company Overview - Silver47 Exploration Corp. focuses on developing silver-rich deposits in North America, with a combined resource totaling 236 million ounces of silver equivalent at an average grade of 334 g/t AgEq inferred and 10 million ounces at 333 g/t AgEq indicated [9].