Alaska Silver Closes C$7.62M Private Financing

What Happened
Alaska Silver Corp. (TSXV: WAM, OTCQX: WAMFF) announced on Aug. 17, 2026 that it closed a private investment in public equity financing on or about Aug. 14, 2026 for aggregate gross proceeds of C$7,615,800 (approx. US$5.48M). The Company issued 13,846,910 units at C$0.55 per unit; each unit includes one common share and one warrant exercisable at C$0.75 for three years. The press release announcing the closing was filed as Exhibit 99.1 to the Form 8-K.

Key Details

• Total proceeds: C$7,615,800 (approx. US$5,480,000); Units issued: 13,846,910 at C$0.55 each.
• Warrants: 1 warrant per unit, exercise price C$0.75, term 3 years; warrants carry no shareholder rights until exercised.
• Use of proceeds: expand 2026 Illinois Creek Project exploration — increase drilling from 6,000 metres toward ~9,000 metres — plus metallurgical/technical work, baseline environmental studies and general corporate purposes.
• Insider participation & approvals: Crescat Capital LLC (an insider) bought 1,830,910 shares and 1,830,910 warrants to maintain ~13.7% ownership; the related‑party transaction relied on MI 61‑101 exemptions. Financing sold to accredited investors under US Reg D and Canadian exemptions; TSXV final acceptance pending.
• Registration rights: Company will file a U.S. resale registration statement for the shares within 120 days and will use commercially reasonable efforts to have it declared effective within 150 days (180 days if SEC conducts a full review). Warrants cannot be exercised into U.S. registered shares unless registration or an applicable exemption is available and satisfactory legal opinion/evidence is provided.

Why It Matters
This financing provides Alaska Silver with immediate capital to accelerate exploration at its Illinois Creek Project — notably a planned increase in drilling — which could advance the project’s technical programs and data. Investors should note dilution from the new shares and potential future dilution if warrants are exercised, and that the securities were issued under private‑placement exemptions (not registered in the U.S.) and remain subject to TSXV acceptance and SEC registration timelines for resale in the U.S. Crescat’s participation preserves a major shareholder’s stake, signaling continued insider support.