Defiance Silver Corp.
Defiance Silver Corp.
- ISIN: CA2447672080
- Land: .
Nachricht vom 14.08.2019 | 13:33
Defiance Closes $3.3M Private Placement
DGAP-News: Defiance Silver Corp. / Key word(s): Miscellaneous
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2019) - Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) ("Defiance") is pleased to announce that it has closed a non-brokered private placement in the amount of $3,323,106 and has issued in connection therewith 14,448,286 units (the "Units") at a price of $0.23 per Unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire an additional common share of Defiance at an exercise price of $0.31 until August 12, 2022.
Defiance intends to use the proceeds of the financing to continue an aggressive exploration program at its San Acacio Silver project. The drill program will focus on the discovery of new silver shoots along the Veta Grande vein, the recently defined silver-copper geophysical anomaly and further resource expansion.
Insiders of Defiance subscribed for a total of 133,400 Units. Participation by insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101. The issuance of securities to the related party is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority shareholder approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(b) of MI 61-101.
Closing of the Offering is subject to receipt of all the required regulatory approvals including the approval of the TSX Venture Exchange. Finder's fees of $30,056 and 87,780 finder warrants were paid in connection with the Private Placement. The securities issued under the Offering will be subject to a four month hold period expiring on December 13, 2019.
About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (FSE: D4E) is a district scale resource exploration company advancing the San Acacio Silver Deposit, located in the historic Zacatecas Silver District and the 100% owned Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to expand the San Acacio and Tepal projects to become premier Mexican silver and gold deposits. Please visit our YouTube channel for more information on our projects.
On behalf of Defiance Silver Corp.
Interim CEO, Chairman of the Board, Director
For more information, please contact Corporate Development (604) 669 7315 or via email at email@example.com
704 - 595 Howe Street
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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|Company:||Defiance Silver Corp.|
|EQS News ID:||857669|
|End of News||DGAP News Service|