01:44 PM EDT, 06/17/2025 (MT Newswires) -- Summa Silver ( SSVRF ) on Tuesday said it closed a brokered offering of subscription receipts priced at $0.25 each, raising $6.9 million, including the full exercise of the over-allotment option.

The offering was conducted in connection with Silver47 (AGA.V) and Summa Silver ( SSVRF ) merging via a court-approved plan of arrangement, whereby Summa shareholders would receive 0.45 shares of Silver47 per Summa share held. The combined company will continue under the name Silver47 Exploration ( AAGAF ).

Each subscription receipt will entitle the holder to receive one unit of Summa, consisting of one Summa share and half a two-year warrant. Following the merger, each warrant will buy a Silver47 share at $0.7964 each.

Proceeds will be used the advance the combined company's silver project portfolio in the U.S.

Silver47 was last seen up $0.07 to $0.93 on the TSX Venture Exchange, while Summa Silver ( SSVRF ) was last seen up $0.025 to $0.36.

Price: 0.36, Change: +0.02, Percent Change: +5.97