Defiance Silver Announces Closing of Private Placement Financing
Defiance Silver Announces Closing of Private
Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Defiance Silver Corp. (TSXV: DEF)
(FSE: D4E) (WKN: A1JQW5) ("
Defiance
" or the "
Company
") is pleased to announce that it has closed
the second and final tranche ("
Final Tranche
") on July 26
th
, 2024 (the "
Closing Date
") of its previously
announced non-brokered private placement offering (the "
Offering
") of units of the Company (the
"
Units
") at a price of C$0.20 per Unit (the "
Offering Price
"), with the issuance of 3,043,575 Units for
gross proceeds of C$608,715. The first tranche ("
First Tranche
") of the non-brokered private
placement offering comprising 13,069,500 Units for gross proceeds of C$2,613,900 closed on July 12,
2024 (
see news release dated July 12th, 2024
). The aggregate gross proceeds of the First Tranche and
Final Tranche total C$3,222,615 representing 16,113,075 Units.
Marketed Offering
Each Unit is comprised of one common share of the Company (each a "
Common Share
") and one-half
of one common share purchase warrant (each whole common share purchase warrant, a "
Warrant
").
Each Warrant will be exercisable by the holder thereof to acquire one common share of the Company
(each a "
Warrant Share
") at a price of C$0.35 at any time on or before the date which is 24 months
after the Closing Date.
The net proceeds of the Offering will be used by the Company for exploration and general working
capital purposes. Under applicable securities legislation and the policies of the TSX Venture Exchange,
the securities issued in this Final Tranche of the Offering are subject to a four-month hold period, expiring
on November 26, 2024.
In connection with the closing of the Offering, the Company paid finder's fees comprised of an aggregate
cash commission $110,868 and an aggregate of 748,453 non-transferable warrants (each a "
Finder
Warrant
") to arm-length finders. Each Finder Warrant entitles the holder thereof to purchase common
shares of the Company at a price of C$0.20 per common share for a period of two (2) years following
the Closing Date, the whole in accordance with the rules and policies of the TSX Venture Exchange.
About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company
advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the
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 advance our projects through
capital-efficient exploration focused on resource growth and new mineral discoveries.
On behalf of Defiance Silver Corp.
"Chris Wright"
Chairman of the Board
For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at
.
www.defiancesilver.com
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Tel: +1 (604) 343-4677
Email:
Disclaimer
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.
Caution Regarding Forward-Looking Information
Information contained in this news release which are not statements of historical facts may be
"forward-looking information" for the purposes of Canadian securities laws. Such forward-looking
information and statements involve known and unknown risks and uncertainties that may cause
Defiance's actual results, performance and achievements to differ materially from those expressed or
implied by the forward-looking information and statements and accordingly, undue reliance should not
be placed thereon. The words "believe", "expect", "anticipate", "contemplate", "plan", "intends",
"continue", "budget", "estimate", "may", "will", "schedule", "understand" and similar expressions
identify forward-looking information.
Risks and uncertainties that may cause actual results to vary include but are not limited to the
speculative nature of mineral exploration and development, including the uncertainty of reserve and
resource estimates; operational and technical difficulties; the availability of suitable financing
alternatives; fluctuations in gold and other commodity prices; changes
to and compliance with
applicable laws and regulations, including environmental laws and obtaining requisite permits;
political, economic and other risks arising from Defiance's Mexican activities; fluctuations in foreign
exchange rates; as well as other risks and uncertainties which are more fully described in our annual
and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian
securities regulatory authorities and available at
www.sedarplus.ca
. Accordingly, all such factors
should be considered carefully when making decisions with respect to Defiance, and prospective
investors should not place undue reliance on forward-looking information. Forward-Looking
information in this news release is made as at the date hereof. The Company assumes no obligation
to update or revise forward-looking information to reflect changes in assumptions, changes in
circumstances or any other events affecting such forward-looking information, except as required by
applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/218088