Silver47 Closes Additional Tranche of Non- Brokered Private Placement
Silver47 Closes Additional Tranche of Non-
Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2025) - Silver47 Exploration Corp. (TSXV:
AGA) ("
Silver47
" or the "
Company
") is pleased to announce the closing of an additional tranche (the
"
Additional Tranche
") of its previously announced non-brokered private placement (the "
Private
Placement
") (as set out in the Company's news releases dated February 19 and 24, 2025).
Pursuant to
the closing of the Additional Tranche, the Company issued 4,155,000 units of the Company (the "
Units
")
at a price of $0.50 each for aggregate gross proceeds to the Company of $2,077,500. The Company
anticipates completing the balance of the Private Placement on or around March 19, 2025 or as may be
determined by the Company.
Each Unit consists of one common share in the capital of the Company (a "
Common Share
") and one-
half of one Common Share purchase warrant (a "
Half-Warrant
", with two Half-Warrants being referred
to as a "
Warrant
").
Each Warrant entitles the holder thereof to acquire one Common Share at a price of
$0.75 within 36 months following issuance.
The Company intends to use the net proceeds from the sale
of the Units to fund exploration activities at the Red Mountain Project in Alaska and for general working
capital.
In connection with the Additional Tranche, the Company paid certain persons ("
Finders
") finders' fees
totaling $10,220 in cash, representing 7% of the aggregate proceeds raised by the Finders, and issued
20,440 finders' warrants (the "
Finder's Warrants
"), representing 7% of the number of securities sold to
subscribers introduced to the Company by the Finders.
Each Finder's Warrant is exercisable for one
Common Share at an exercise price of $0.75 for a period of 36 months from the date of issuance.
All securities issued under the Private Placement are subject to a hold period of four months and one
day from the date of issuance under applicable securities laws.
The Private Placement is subject to the
final approval of the TSX Venture Exchange (the "
TSXV
") to be obtained on completion of the Private
Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
The securities have not been and will not be registered under the United States
Securities Act of 1933
,
as amended (the "
1933 Act
"), or any state securities laws and may not be offered or sold in the "United
States" or to "U.S. persons" (as such terms are defined in
Regulation S
under the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws, or an exemption from such
registration requirements is available.
About Silver47 Exploration Corp.
Silver47 wholly-owns three silver and critical metals (polymetallic) exploration projects in Canada and the
US: the Flagship Red Mountain silver-gold-zinc-copper-lead-antimony-gallium VMS-SEDEX project in
southcentral Alaska; the Adams Plateau silver-zinc-copper-gold-lead SEDEX-VMS project in southern
British Columbia, and the Michelle silver-lead-zinc-gallium-antimony MVT-SEDEX Project in Yukon
Territory.
Silver47 Exploration Corp. shares trade on the TSXV under the ticker symbol AGA. For more
information about Silver47, please visit our website at
www.silver47.ca
.
On Behalf of the Board of Directors
Mr. Gary R. Thompson
Director and CEO
For investor relations
Meredith Eades
778.835.2547
No securities regulatory authority has either approved or disapproved of the contents of this release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information"
as defined under applicable Canadian securities laws. Forward-looking statements and information
can generally be identified by the use of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "upon" "anticipate", "believe", "continue", "plans" or similar terminology. Forward-
looking statements and information include, but are not limited to: closing of the Private Placement,
including the number of Units and FT Units issued in respect thereof; anticipated use of proceeds;
expected closing date of the Private Placement; payment of finder's fees; ability to obtain all
necessary regulatory approvals; insider participation in the Private Placement; the statements in
regards to existing and future products of the Company; and the Company's plans and strategies.
Forward-looking statements and information are based on forecasts of future results, estimates of
amounts not yet determinable and assumptions that, while believed by management to be
reasonable, are inherently subject to significant business, economic and competitive uncertainties
and contingencies.
Forward-looking statements and information are subject to various known and
unknown risks and uncertainties, many of which are beyond the ability of the Company to control or
predict, that may cause the Company's actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are developed based on assumptions about
such risks, uncertainties and other factors set out herein, including but not limited to: the ability to
close the Private Placement, including the time and sizing thereof, the insider participation in the
Private Placement and receipt of required regulatory approvals; the use of proceeds not being as
anticipated; the Company's ability to implement its business strategies; risks associated with general
economic conditions; adverse industry events; stakeholder engagement; marketing and
transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient
capital from internal and external sources, and/or inability to access sufficient capital on favourable
terms; industry and government regulation; changes in legislation, income tax and regulatory matters;
competition; currency and interest rate fluctuations; and the additional risks identified in the
Company's financial statements and the accompanying management's discussion and analysis and
other public disclosures
recently filed under its issuer profile on SEDAR+ and other reports and filings
with the TSXV and applicable Canadian securities regulators. The forward-looking information are
made based on management's beliefs, estimates and opinions on the date that statements are made
and the Company undertakes no obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change, except as required by applicable
securities laws.
No forward-looking statement can be guaranteed, and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on forward-looking statements.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION OR
DISSEMINATION IN OR INTO THE U.S.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/244400