03:08 PM EDT, 08/01/2025 (MT Newswires) -- Eric Sprott, a Canadian billionaire businessman, gold investor and founder of Sprott Inc. ( SII ) , a Toronto-based asset management firm, announced Friday that a corporation beneficially owned by him has acquired 10,383,434 common shares of Silver47 Exploration Corp. ( AAGAF ), (AGA.V) and 1,525,000 Silver47 share purchase warrants.

A statement noted this was upon the closing of a statutory plan of arrangement that sees Silver47 acquire all the outstanding common shares of Summa Silver Corp ( SSVRF ) . Among other things, holders of Summa Silver ( SSVRF ) shares received 0.452 of a Silver47 Share for every Summa Silver ( SSVRF ) share they held. Sprott now beneficially owns over 10% of the outstanding Silver47 Shares. He no longer holds any securities of Summa Silver ( SSVRF ). In addition, Sprott (as well as 2176423 Ontario Ltd.) ceased to be insiders of Summa Silver ( SSVRF ).

Silver47 was last seen down 5.2% at $0.89 and Summa Silver ( SSVRF ) was last seen down 2.4% at $0.40 on the TSX Venture Exchange.

Price: 0.90, Change: -0.04, Percent Change: -4.26