Following the announced merger with Summa Silver (TSXV SSVR), Silver47 Exploration (TSXV AGA / WKN A408EQ) receives the highest rating from the Toronto Stock Exchange (TSX Venture Exchange)! Starting today’s trading, the silver company’s stock will be listed in “Tier 1”.
The TSX Venture Exchange classifies the companies listed there into two different categories, considering various factors such as financial condition, development status, and available resources. Tier 1 is assigned to companies that are more advanced in their development and have significant financial resources. With this upgrade, the stock exchange thus honors Silver47’s continued growth and the company’s commitment to creating long-term value for its shareholders.
Silver Company with more than 230 Million Oz AgEq Emerges
Silver47 recently announced the acquisition of all outstanding shares of competitor Summa Silver. This creates a silver company that already has 10 million ounces of silver equivalent in the indicated category and 236 million ounces of silver equivalent in the inferred category – with the goal of expanding its resources to 1 billion (!) ounces. Here is more information on this exciting merger:
The upgrade to Tier 1 also has implications for how the company’s shares are released from escrow. Now, the securities will be released over a period of 18 months, with the following securities being released immediately: 3,952,748 common shares, 462,500 options, and 131,250 Restricted Share Units and/or all common shares upon exercise of these convertible securities. The remaining escrowed securities will be released as follows: 3,952,763 common shares, 462,500 options, and 131,250 Restricted Share Units will be released on November 14, 2025, i.e., 12 months after listing (and/or all common shares upon exercise of these convertible securities); and 3,952,764 common shares, 462,500 options, and 131,250 Restricted Share Units will be released on May 14, 2026, i.e., 18 months after listing (and/or all common shares upon exercise of these convertible securities).
