Vancouver, British Columbia–(Newsfile Corp. – May 25, 2024) – IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) (FSE: IKL) (“IMPACT” or the “Company”) is pleased to announce it is amending and increasing its previously announced non-brokered private placement of the Company from $8.2 million to aggregate gross proceeds of up to $10.2 million due to increased investor interest (the “Offering”). Closing of the first tranche of the Offering for gross proceeds of $7.12 million was announced in the Company’s news release dated May 21, 2024.
The revised financing has been increased to $7,000,000 from the sale of 25,925,925 units (the “Standard PP Units”) at a price of $0.27 per Standard PP Unit, up from the original proposed $3,000,000 and 11,111,111 Standard PP Units on April 30, 2024, which was subsequently upsized to $5,000,000 and 18,518,518 Standard PP Units on May 13, 2024. This is in addition to the LIFE Offering (defined below) of $3,200,000, bringing total size of the Offering up to $10,200,000.
Each Standard PP Unit is comprised of one common share and one full share purchase warrant (each a “Warrant”) with each Warrant entitling the holder thereof to acquire one common share of the Company (a “Warrant Share”) at a price of $0.34 per Warrant Share for a period of 24 months from its date of issue.
The LIFE financing units remain unchanged at $0.28 per LIFE unit, each comprised of one common share and one-half of one Warrant for gross proceeds up to $3,200,000 (the “LIFE Offering”). All other terms from the Company’s press release announcing the LIFE Offering and Standard PP Unit offering on April 30, 2024 remain the same.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions, the LIFE Offering is being made pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”). The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document (the “Offering Document”) related to the LIFE Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at impactsilver.com. Prospective investors should read this Offering Document before making an investment decision.
The second and final tranche of the Offering is scheduled to close on or about the week of May 27, 2024 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (the “Exchange”). The Company may pay finder’s fees or commissions on a portion of the Offering, subject to compliance with the policies of the Exchange and applicable securities legislation. All common shares and Warrants issued as part of the Standard PP Units will bear a hold period of four months and one day from the date of issuance.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where four underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over 4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016, for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 18 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenue more than $261 million.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential. The Company recently began preliminary mining and…
Read More: IMPACT Silver Upsizes Non-Brokered Private Placement Financing to $10.2 Million