Silver47 Exploration (TSX-V:AGA) has amended its agreement with Research Capital Corporation to act as the lead underwriter and sole bookrunner for a C$30 million ($32.77 million) equity raise, which was upsized from C$20 million following “strong investor demand”.
Under the deal, a syndicate of underwriters have agreed to purchase – on a bought deal basis – 28.57 million Silver47 shares at C$1.05 per share.
Each share comprises one common share and one-half of a share purchase warrant, exercisable at C$1.40 within 36 months following the closing of the offering.
The funds will be used to accelerate and expand planned drilling programs across Silver47’s projects in the US, as well as general working capital purposes.
The offer is expected to close on or about the week of 12 January 2026.
As Mining.com.au reported, Silver47 is planning a multi-disciplinary project-scale exploration program during the North American summer in 2026, at the Red Mountain Project in Alaska.
Activities will include geological mapping, soil and rock geochemical surveys and possible ground geophysical surveys to advance high-priority drill targets which may also be drill tested.
At the Mogollon Project in New Mexico, drilling is set to begin during January, followed by the Hughes Project in Nevada in March.
Silver47 Exploration is focused on building America’s next silver company through a portfolio of advanced projects in Alaska, Nevada, and New Mexico.
Write to Aaliyah Rogan at Mining.com.au
Images: Silver47 Exploration
