Silver47 Announces Closing of $23 Million Brokered LIFE Financing, Including Full Exercise of the Over-Allotment Option

Core Viewpoint - Silver47 Exploration Corp. has successfully closed a brokered private placement, raising a total of $23,000,460 through the sale of units priced at $0.70 each, including the full exercise of the over-allotment option [1][7]. Group 1: Offering Details - The Offering was led by Research Capital Corporation, with participation from Eventus Capital Corp. and Haywood Securities Inc. Each unit consists of one common share and one-half of a common share purchase warrant, with warrants exercisable at $1.00 until September 16, 2028 [2]. - The net proceeds from the Offering will be allocated for further exploration work on the Company's projects and for general working capital purposes [3]. - The Units were sold under the "listed issuer financing exemption," allowing them to bypass the prospectus requirement, with certain securities subject to a hold period until January 17, 2026, for shares sold to a director [4]. Group 2: Financial Arrangements - Silver47 paid a total cash commission of $1,193,175 to the Agents and issued 1,704,536 broker warrants, each exercisable at $0.70 until September 16, 2028. Additionally, an advisory fee of $179,342.80 plus tax was paid, along with 256,204 advisory warrants on the same terms as the broker warrants [5]. - A director of Silver47 acquired 100,000 Units for gross proceeds of $70,000, classifying the Offering as a related party transaction. The Company relied on exemptions from formal valuation and minority approval requirements due to the participation not exceeding 25% of its market capitalization [6]. Group 3: Company Overview - Silver47 Exploration Corp. is focused on mineral exploration, particularly in developing silver-rich deposits in North America, with a combined resource totaling 236 million ounces of silver equivalent at an inferred grade of 334 g/t and 10 million ounces at an indicated grade of 333 g/t [9]. - The Company operates in key mining jurisdictions in Alaska, Nevada, and New Mexico, positioning itself as a leading high-grade silver developer [9].