RSS SubscribeVancouver, 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.