Alaska Silver Announces Closing of US$13.8 Million Offering
Alaska Silver Announces Closing of US$13.8
Million Offering
Tucson, Arizona--(Newsfile Corp. - October 3, 2025) -
Alaska Silver Corp.
(TSXV: WAM) (the
"
Company,
" "
Alaska Silver
" or "
WAM
") is pleased to announce that it has closed its previously
announced offering of 21,229,000 units of the Company ("
Units
") at a price of US$0.65 per Unit for
gross proceeds of US$13,798,850
(the "
Offering
"). The Offering was led by Cantor Fitzgerald & Co.
("
Cantor
") as lead book-running manager on behalf of a syndicate of underwriters including Canaccord
Genuity Corp., ATB Capital Markets Inc. and Agentis Capital Markets (First Nations Financial Markets
LP) (collectively, the "
Underwriters
"). Each Unit consists of one subordinate voting share and one
subordinate voting share purchase warrant (a "
Warrant
"). Each Warrant is exercisable for one
subordinate voting share of the Company at US$0.97 until the date which is three years from the closing
date of the Offering. The full over-allotment option granted by the Company to the Underwriters was
exercised in connection with the Offering.
The net proceeds of the Offering will be used to fund the Company's mineral exploration activities, to
repay certain outstanding debt and for general working capital purposes.
The Offering was completed (i) in each of the Provinces and Territories of Canada, except for Quebec,
in reliance on the "listed issuer financing" exemption from the prospectus requirements available under
Part 5A.2 of National Instrument 45-106 -
Prospectus Exemptions
, as modified by Coordinated Blanket
Order 45-935 -
Exemptions from Certain Conditions of the Listed Issuer Financing Exemption
, and
pursuant to the public offering exemption available under BC Instrument 72-503 -
Distribution of
Securities outside British Columbia
; (ii) in the United States pursuant a prospectus that forms a part of
an effective registration statement filed with the Securities and Exchange Commission; and (iii) in such
other jurisdictions other than Canada and the United Sates pursuant to relevant prospectus or
registration exemptions in accordance with applicable laws, provided that no prospectus filing or
comparable obligation, ongoing reporting or continuous disclosure requirement or requisite regulatory or
governmental approval arises or has arisen in such jurisdictions. There is no hold period on the Units
issued in the Offering.
In connection with the Offering, the Company paid to the Underwriters an underwriting discount of
US$1,034,913.75 and issued to the Underwriters warrants to purchase up to 849,160 subordinate voting
shares (the "
Underwriters' Warrants
"). Each Underwriters' Warrant entitles the holder thereof to
acquire subordinate voting shares of the Company at a per share exercise price of US$0.97 beginning
on the date which is 180 days after September 30, 2025, which is the date of the pricing of the Offering
(the "
Pricing Date
"), until the date which is 18 months after the Pricing Date.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the
Company's securities, nor shall such securities be offered or sold in the United States absent
registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale
of any of the Company's securities in any state or jurisdiction in which such offers, solicitations or sales
would be unlawful prior to registration or qualification under the securities laws of such state or
jurisdiction.
About Alaska Silver
Alaska Silver is one of the pioneers of North America's next major silver and critical minerals district at
the Illinois Creek Project, a prolific 8-km mineral corridor hosting two stand-alone deposits with a new
Warm Springs discovery zone in between (the "
IC project
"). The claims of the IC project cover a 100%
owned land package of 73,535 acres (115 square miles or 29,758 hectares), located approximately 38
kilometers from the region's marine highway, the Yukon River.
"Kit Marrs"
Kit Marrs
President & CEO
Phone: (520) 200-1667
Patrick Donnelly
Executive Vice President
Or visit our website at:
www.alaskasilver.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. "Forward-looking information" includes, but is not limited to, statements with
respect to the activities, events or developments that the Company expects or anticipates will or may
occur in the future. Generally, but not always, forward-looking information can be identified by the use
of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words
and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved" or the negative connation thereof. This forward looking information
relates to, among other things, the intended use of proceeds from the Offering.
Such forward-looking information is based on numerous assumptions, including among others, that
the Company will be able to utilize the proceeds of the Offering in the manner intended. Although the
assumptions made by the Company in providing forward-looking information is considered
reasonable by management at the time, there can be no assurance that such assumptions will prove
to be accurate and actual results and future events could differ materially from those anticipated in
such information.
Important factors that could cause actual results to differ materially from the Company's plans or
expectations include market conditions, metal prices, and the risk that the Company will not be able to
utilize the proceeds of the Offering in the manner intended. Although the Company has attempted to
identify important factors that could cause actual results to differ materially from those contained in the
forward-looking information or implied by forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-
looking information will prove to be accurate, as actual results and future events could differ materially
from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance
on forward-looking information. Readers are cautioned that reliance on such information may not be
appropriate for other purposes. The Company does not undertake to update any forward-looking
information or financial outlook that are incorporated by reference herein, except in accordance with
applicable securities laws. Any forward-looking information contained in this news release is expressly
qualified in their entirety by this cautionary statement. We seek safe harbor.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/269046