Silver47 Exploration Corp. (TSXV:AGA; OTCQB:AAGAF) and Summa Silver Corp. (TSXV:SSVR; OTCQX:SSVRF) have completed an at-market merger through a court-approved plan of arrangement. The newly combined company will be formally recognized as Silver47 Exploration Corp. as a premier high-grade silver focused explorer and developer, with a portfolio of silver-rich mineral resource projects in the US.
The companies’ collective mineral resources equal approximately 10Moz AgEq at 333g/t AgEq of indicated mineral resources and 236Moz AgEq at 334g/t AgEq inferred mineral resources.
The terms of the transaction provide Summa shareholders with 0.452 common shares of Silver47 in exchange for each Summa common share held.
Finalizing the transaction, Summa has now become a wholly-owned subsidiary of Silver47 and all Summa shares will be delisted from the TSXV at market close around 5 August 2025. Summa will then apply to cease to be a reporting issuer under applicable Canadian Securities laws.
Galen McNamara, Chief Executive Officer of Silver47 commented on the merger, “Silver47 now emerges as a premier United States-focused high-grade silver explorer and developer. Uniting projects in Alaska, Nevada, and New Mexico cumulatively hosting well over 200 million silver equivalent ounces with clear upside potential, we’re poised to benefit from a renewed interest in United States mineral development at a time when the importance of domestic production has returned to the national spotlight. With a talented team, strong cash position, and support from our shareholders, we plan to aggressively drive exploration, growth, and development. This combination enhances our scale and visibility in an emerging silver and critical metals market, positioning us to advance our vision and deliver ongoing value to shareholders.”
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