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Silver47 Exploration Corp ( (TSE:AGA) ) has provided an announcement.
Silver47 Exploration Corp. has upsized its bought deal public offering to approximately $30 million, with underwriters agreeing to purchase 28.57 million units at $1.05 each, each unit consisting of one common share and half a warrant exercisable at $1.40 for 36 months. The company plans to use the net proceeds to accelerate and expand drilling programs across its silver projects and for general corporate and working capital needs, a move that could speed up resource development and strengthen its position in the U.S.-focused silver exploration space; an over-allotment option of up to 15% could lift total gross proceeds to about $34.5 million, subject to customary regulatory approvals and listing of the new securities on the TSX Venture Exchange.
More about Silver47 Exploration Corp
Silver47 Exploration Corp. is a North America-focused mineral exploration company specializing in uncovering and developing high-grade silver-rich deposits. With operations in Alaska, Nevada and New Mexico, the company is positioning itself as a leading U.S.-focused silver developer, reporting a combined resource of 236 million ounces silver-equivalent inferred and 10 million ounces silver-equivalent indicated. Its shares trade on the TSX Venture Exchange under the symbol AGA and on the OTCQX under AAGAF, anchoring it in some of the most prolific mining jurisdictions in the United States.
Average Trading Volume: 1,000,763
Technical Sentiment Signal: Strong Buy
For a thorough assessment of AGA stock, go to TipRanks’ Stock Analysis page.