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Silver47 Announces Closing of Third Tranche and Upsize of Non-Brokered Private Placement from $8 Million to $11 Million
Vancouver, British Columbia--(Newsfile Corp. - March 19, 2025) - Silver47 Exploration Corp. (TS...
About this update from Silver47 Exploration Corp
[{"type":"text","content":"Silver47 Announces Closing of Third Tranche and Upsize of Non-Brokered Private Placement from $8 Million to $11 MillionVancouver, British Columbia--(Newsfile Corp. - March 19, 2025) - Silver47 Exploration Corp. (TSXV: AGA) (OTCQB: AAGAF) (\"Silver47\" or the \"Company\") is pleased to announce that, due to strong investor demand, it has increased the size of its previously announced non-brokered private placement (the \"Private Placement\") from $8 million to $11 million (the \"Upsize\"). The Company also intends to complete the third tranche (the \"Third Tranche\") of the Private Placement on March 21, 2025. The closing of the Third Tranche, along with the Upsize, will be completed as part of the same financing, as set out in the Company's news releases dated February 19 and 24, 2025.Pursuant to the Third Tranche, the Company will issue approximately 3,871,000 units at a price of $0.50 each, for gross proceeds of approximately $1,935,500. Completion of the Third Tranche will result in the Company having issued an aggregate of 14,938,400 units and 929,192 flow-through units (at a price of $0.57 per flow-through unit) for aggregate proceeds under the Private Placement of $7,998,839.Each unit under the Third Tranche will consist of one common share in the capital of the Company (the \"Common Share\") and one-half of one Common Share purchase warrant (with each full warrant being a \"Warrant\"). Each Warrant will entitle the holder to acquire one Common Share at a price of $0.75 within 36 months following issuance.In connection with the Third Tranche, the Company will pay finders' fees of $72,975 in cash, representing 7% of the aggregate proceeds raised by such finder(s), and will issue approximately 145,950 finders' warrants (the \"Finders' Warrants\"), representing 7% of the number of securities sold to subscribers introduced to the Company by such finder(s). Each Finders' Warrant will be exercisable for one Common Share at an exercise price of $0.75 for a period of 36 months from the date of issuance. The Company will have paid to finders an aggregate of $284,294 in cash and issued an aggregate of ‎‎565,278 Finders' Warrants pursuant to the Private Placement to-date.‎The Upsize will include the sale of the following securities:- Up to 6,000,000 units of the Company at $0.50 each (the \"Units\"), for aggregat...