Defiance Announces Closing of $1.2M IN Private Placement
DEFIANCE ANNOUNCES CLOSING
OF $1.2M IN PRIVATE PLACEMENT
FOR RELEASE: Sept 15, 2017 TSXV: DEF
OTC: DNCVF
Defiance Silver Corp. (“Defiance” or “Company” ), an emerging silver explorer currently
advancing the San Acacio Silver Deposit in Zacatecas, Mexico, is pleased to announce that it is
closing on a first tranche of $1,254,000 of a non -brokered private placement consisting of up to
7,000,000 units at a price of $0.30 per u nit for gross proceeds of up to $2,100,000 (the
“Offering”). Each unit consists of one common share and one common share purchase warrant.
Each warrant will entitle the holder thereof to acquire an additional common share of Defiance
for a period of twenty-four (24) months at an exercise price of $0.45. The securities issued under
the Offering will be subject to a four month hold period in accordance with applicable Canadian
securities laws. The warrants are subject to an acceleration clause such that if the closing price
of the Company’ s shares on the TSX Venture Exchange is at or above $0.65 per share for a
period of ten consecutive trading days during the term of the w arrants, the Company may
accelerate the expiry date of the Warrants to not less than 30 days following the date of notice.
The funds raised in this financing will be used to advance its San Acacio Silver D eposit,
currently totaling 17,961,000 silver equivalent ounces at a silver equivalent grade of 192.50 g/t
Ag, contained within a zone 1.2km in length and to a depth of 175m . Use of proceeds will be
used to commence a drill program and follow up on encouraging drill results to date which
continue to expand the mineralization at depth and along strike, and most importantly outside the
limits of the current resource . Defiance recently intercepted wide zones of mineral ization
returning 27 metres grading 203 g/t silver equivalent (see the Press Release dated June 8, 2017),
and will be releasing results from an a dditional five holes shortly. Defiance’s exploration drill
results are not included in the current resource.
“We are very pleased and would like thank our shareholders, insiders and management in
participating and securing the funds to advance the San Aca cio Silver Deposit in becoming a
premier silver asset in Zacatecas, Mexico ” said Roy Bonnell, CEO of Defiance Silver. “ With
long term drill permits in place, we can look to comme nce our next phase of drilling to continue
to grow the resource, but also test several targets along the 900m strike extension to the
southeast”
Closing of the Offering is subject to receipt of all the required regulatory approvals including the
approval of the TSX Venture Exchange. The Company may pay finder’s fees in compliance w ith
TSX Venture Exchange policies on some or all of the Offering.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit
our Defiance YouTube Channel . Defiance Silver Corp. is a silver explorer and developer
advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central
Mexico. Defiance is managed by a team of proven m ine developers with a track recor d of
exploring and developing seven operating mines to date. Defiance’s corporate mandate is to
expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
Mr. Bruce Winfield, P.Geo., consultant to Defiance Silver Corp, is a Qualified Person within the
meaning of National Instrument 43 -101, and has approved the technical information concerning
the Company’s material mineral properties contained in this press release.
On behalf of Defiance Silver Corp.
“Roy Bonnell”
President & CEO
For more information, please contact: Sunny Pannu – Corporate Development (604) 669 7315 or
via email at [email protected]
2300 - 1177 West Hastings Street www.defiancesilver.com
Vancouver, BC V6E 2K3 Tel: 604-669-7315 Email:[email protected]
Neither TSX Venture Exchange nor its Regulation Services Provid er (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this rel ease.