Alaska Silver Announces Plan for Deferred Management Fees Transaction

About this update from Alaska Silver Corp

[{"type":"text","content":"Alaska Silver Announces Plan for Deferred Management Fees TransactionTucson, Arizona--(Newsfile Corp. - May 19, 2026) - Alaska Silver Corp. (TSXV: WAM) (the \"Company,\" \"Alaska Silver\") announces that it has entered into agreements to settle C$1,237,962 in outstanding management fee debt through the issuance of an aggregate of 1,509,710 common shares of the Company (the \"Settlement Shares\") at a price of $0.82 per Common Share (the \"Debt Settlement\").This settlement transaction represents deferred management fees owed to the Company's President and CEO, Christopher (Kit) Marrs, its Vice President, Administration, Joan Marrs, and its Chief Exploration Officer, Joe Piekenbrock (collectively, the \"Creditors\"), which accrued pursuant to employment and consulting agreements between the Company and the Creditors between 2023 and 2025 (in the case of Christopher Marrs and Joan Marrs) and from 2022 to present (in the case of Joe Piekenbrock).The Company's board of directors and management believe that completing the Debt Settlement by issuing shares is in the best interests of the Company as it will allow the Company to preserve its cash resources for ongoing and planned operations.Kit Marrs stated, \"We are very happy with this proposal to tighten up our Balance Sheet and remove this debt that has built up since 2022. Joan, Joe and I consciously deferred our compensation when times were tough because we wanted to prioritize cash for drilling and advancing our project, and ultimately increasing shareholder value.\" Completion of the Debt Settlement remains subject to receipt of all necessary regulatory approvals, including acceptance by the TSX Venture Exchange (the \"Exchange\") and the approval of disinterested shareholders of the Company. The Company will be seeking disinterested shareholder approval of the Debt Settlement at its annual general and special meeting of shareholders to be held on June 19, 2026. For the purposes of the resolution to approve the Debt Settlement, all of the common shares beneficially owned by the Creditors, including their Associates and Affiliates (as those terms are defined under the policies of the Exchange), will not be entitled to vote on the resolution to approve the Debt Settlement. The Settlement Shares will be subject to a four-month hold period from the date of issuance in acco...

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