Silver47 Exploration (TSX-V:AGA) has completed an upsized bought deal public offering, totalling C$34.5 million ($37.2 million) at C$1.05 per share.
The funds will be used to accelerate and expand drilling programs on the company’s silver projects, as well as general working capital.
Under the offering, each unit comprised one common share and one-half of one common share purchase warrant of the company. Each warrant will allow the holder to purchase one common share exercisable at C$1.40 per share until 14 Janunary 2026.
Eventus Capital Corp is a special advisor to the company.
As Mining.com.au reported, Silver47 Exploration is planning a multi-disciplinary project-scale exploration program during the North American summer in 2026, at the Red Mountain Project in Alaska.
Work is anticipated to 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.
The Red Mountain Project represents a district-scale polymetallic opportunity with upside potential, located 100km south of Fairbanks, Alaska.
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
