Alaska Silver Corp. (WAMFF) SEC Filings

Alaska Silver Corp. (WAMFF), a British Columbia corporation with principal offices in Tucson, Arizona, filed a new notice of an exempt securities offering under Regulation D Rule 506(b). The offering covers equity securities and options, warrants or other rights to acquire another security.

The company reports a total amount sold of $725,898 USD with $0 USD remaining to be sold, indicating the exempt offering referenced in this notice has been fully placed. U.S. sales totaled C$1,007,000.50 at an exchange rate of 1 USD to C$1.3871 on August 17, 2026, which is also the stated date of first sale. No finders’ fees have been paid, with finders’ fees disclosed as $0 USD.

Alaska Silver Corp. completed a private investment in public equity financing, raising C$7,615,800 (approximately US$5,480,000) through the issuance of 13,846,910 Units at C$0.55 per Unit. Each Unit consists of one common share and one warrant, with each warrant exercisable for three years at C$0.75 per share.

The company plans to use the net proceeds to expand its 2026 exploration program at the Illinois Creek Project, increasing drilling from 6,000 metres to approximately 9,000 metres, and to fund metallurgical and technical work, baseline environmental studies, and general corporate purposes. The financing is subject to final acceptance from the TSX Venture Exchange.

Crescat Capital LLC, an existing shareholder and insider, purchased 1,830,910 shares and 1,830,910 warrants, maintaining its ownership at about 13.7%, treated as a related-party transaction under MI 61-101. Alaska Silver agreed to file a resale registration statement in the U.S. within 120 days and use commercially reasonable efforts to have it declared effective within 150–180 days.

Alaska Silver Corp., an exploration-stage miner focused on the Illinois Creek district in Alaska, reported a six‑month net loss of $490,706 to June 30, 2026, compared with a $2.19 million loss a year earlier. Operating expenses rose to $4.68 million, driven largely by higher exploration spending of $2.39 million, but this was offset by a $4.67 million non‑cash gain from revaluing derivative warrant liabilities.

Cash and cash equivalents fell from $9.05 million at year‑end 2025 to $4.08 million, and working capital declined to $480,873, after repaying a $1.20 million high‑interest loan plus $120,000 of interest, which generated a reported settlement loss of $452,492. Total assets were $12.05 million, including $6.31 million of mineral properties.

Management states it has no current operating revenue, an accumulated deficit of $49.86 million, and will require additional financing; these factors create substantial doubt about its ability to continue as a going concern. The company has announced plans for a PIPE financing of up to C$7.62 million to support a larger 2026 drilling program at Illinois Creek, including Waterpump Creek and Silver Sage, but closing is not assured. As of July 31, 2026, it had 89,069,150 common shares outstanding and 133,259,795 shares on a fully diluted basis.

Alaska Silver Corp. disclosed plans for a private investment in public equity financing of up to C$7,615,800, issuing up to 13,846,910 Units at C$0.55 per Unit. Each Unit comprises one common share and a Warrant exercisable at C$0.75 for three years.

The company plans to use proceeds mainly to expand its 2026 Illinois Creek drilling program from 6,000 to about 9,000 metres, plus metallurgical, technical and environmental work and general corporate purposes. Significant shareholder Crescat Capital LLC, holding about 13.8% of outstanding common shares, will participate to maintain its ownership. Closing is expected on or about August 14, 2026, subject to customary conditions and TSX Venture Exchange approval.

Alaska Silver Corp. has filed a post-effective amendment to its Form S-1 to update the prospectus and keep effective the registration of common shares underlying previously issued warrants. The amended registration now covers 21,229,000 common shares issuable upon exercise of investor warrants and 849,160 common shares issuable upon exercise of underwriters’ warrants, all at an exercise price of $0.97 per share. If all 22,078,160 warrants are exercised for cash, the company would receive up to approximately $21.4 million in gross proceeds and have 111,147,310 common shares outstanding, compared with 89,069,150 as of June 30, 2026. The company states it intends to use warrant exercise proceeds to fund exploration activities at its Alaska mineral projects and to repay portions of the Piek promissory note and a shareholder loan, while also noting that actual timing and amount of warrant exercises are uncertain. The filing also updates financial disclosures through the fiscal year ended December 31, 2025 and reflects a share capital reclassification under which subordinate voting shares were redesignated as common shares.

Alaska Silver Corp. filed a current report to share a corporate update and furnish a press release. The company has appointed Dr. Lance Miller as Technical Advisor. He brings more than 35 years of mining experience in Alaska and globally, including senior roles at NANA Regional Corporation and in state industry organizations.

The filing also notes that Darwin Green has stepped down from the Technical Committee, with the company expressing appreciation for his contributions to advancing the Illinois Creek project. The press release reiterates Alaska Silver’s focus on its 100%-owned Illinois Creek Project in western Alaska, which hosts high-grade silver, gold and critical metals resources across a large 80,895-acre land package.

Alaska Silver Corp. reported that shareholders approved all proposals at the June 19, 2026 annual and special meeting. A total of 26,946,579 shares, or 30.36% of the 88,749,150 shares outstanding on the record date, were represented, establishing a quorum. Shareholders set the board size at six, elected all six director nominees, re-appointed Davidson & Company LLP as auditor, approved the 10% rolling Long Term Incentive Plan, and authorized issuing common shares to certain insiders to settle outstanding debts.

The company also provided a summer exploration update for its Illinois Creek Project in western Alaska. A 6,000-metre drill program is underway, with just over 1,000 metres completed across the Silver Sage and Waterpump Creek North targets using two drill rigs. Waterpump Creek currently hosts an Inferred Mineral Resource of 75 million ounces silver equivalent at 279 g/t silver, 11.28% zinc and 9.87% lead, while the broader 100%-owned Illinois Creek land package spans 80,895 acres anchored by additional gold and silver resources.

Alaska Silver Corp. appointed Aaron Schutt as Chief Executive Officer effective October 1, 2026, under an Executive Employment Agreement providing a $300,000 base salary, an annual bonus opportunity of up to 70% of salary, eligibility for long-term incentives, and 500,000 stock options. Co‑founder Christopher (Kit) Marrs will step down as President and CEO on that date and has been named Executive Chairman effective immediately, remaining in that role after the transition. The agreement includes severance protections, with enhanced benefits if a qualifying termination occurs within 12 months of a Change of Control. The filing also highlights Alaska Silver’s Illinois Creek Project in western Alaska, including an Inferred Mineral Resource of 75 Moz AgEq at the Waterpump Creek zone and additional gold and silver resources at the historical Illinois Creek Mine.