IMPACT Silver Closes First Tranche of Financing
IMPACT Silver Closes First Tranche of
Financing
/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN
THE
UNITED STATES
/
Trading Symbol: "IPT: TSX.V"
VANCOUVER
,
Nov. 30, 2018
/CNW/ - IMPACT Silver Corp. ("IMPACT" or the "Company") is
pleased to announce that it has completed the first tranche of the non-brokered private placement
(the "Private Placement") announced on
November 6, 2018
. The first tranche raised a total of
$548,505
from the issuance of 2,031,500 units (each a "Unit") at a price of
$0.27
per Unit. Each Unit
consists of one common share (a "Share") and one warrant (a "Warrant"). Each Warrant entitles the
holder to acquire one Share at a price of
$0.35
and expires in 24 months.
The Company intends to use the proceeds of the Private Placement to explore the Zacualpan land
package for additional high potential precious metals as well as gold-copper targets, to improve
efficiencies at the Guadalupe production mill, and for general working capital purposes.
In consideration of their services, the Corporation has paid to certain finders a cash commission
equal to up to 6% of the gross subscription proceeds raised from certain subscribers in the Private
Placement.
The Private Placement is subject to the receipt of final approval from the TSX Venture Exchange.
The Shares and Warrants issued under the Private Placement today are subject to a standard hold
period of four months and one day, expiring on
March 31, 2019
, all in accordance with applicable
securities laws.
Closing of the second tranche of the Private Placement is expected to occur on or about
December
3
rd
, 2018 or such other date as may be determined by the Corporation.
About IMPACT Silver:
IMPACT Silver Corp. is a successful silver explorer-producer with two processing plants on adjacent
districts within its 100% owned mineral concessions covering 357km
2
in central
Mexico
with
excellent infrastructure and labor force. Over the past twelve years over 8.1 Moz of Silver has been
produced, generating revenues of
$168 million
, with no long-term debt. In the historic
Royal Mines
of
Zacualpan Silver District three underground silver mines feed the central 535 TPD Guadalupe
processing plant. To the south, in the
Mamatla
District the Capire processing plant is currently rated
at 200 tpd, but is expandable. It is adjacent to an open pit silver mine with a National Instrument 43-
101 ("NI 43-101") compliant resource of over 4.5
Moz Silver
, 48 million lbs Zinc and 21 million lbs
Lead (see IMPACT news release dated
January 18, 2016
and titled "IMPACT Announces an
Updated Mineral Resource Estimate at Capire" for details) that is awaiting higher silver prices to be
restarted. Since acquiring the project, IMPACT has compiled an exhaustive database with over
5,000 old mine workings, assayed over 50,000 rock samples and over 70,000 drill core samples,
analysed over 85,000 soil samples, and put six mines into production. Additional information about
IMPACT and its operations can be found on the Company website at
www.IMPACTSilver.com
.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
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.
Forward-Looking and Cautionary Statements
This IMPACT News Release may contain certain "forward-looking" statements and information
relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions
made by and information currently available to IMPACT management. Forward-looking information is
often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue",
"planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and
similar expressions, or describes a "goal", or variation of such words and phrases or state that
certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur
or be achieved. Such statements include, but are not limited to, statements with respect to the
expected use of proceeds of the Private Placement and the anticipated closing dates of future
tranches of the Private Placement.
Such forward-looking information involves known and unknown risks and assumptions, including with
respect to, without limitations, exploration and development risks, expenditure and financing
requirements, title matters, operating hazards, metal prices, political and economic factors,
competitive factors, general economic conditions, relationships with vendors and strategic partners,
governmental regulation and supervision, seasonality, technological change, industry practices, and
one-time events. Should any one or more risks or uncertainties materialize or change, or should any
underlying assumptions prove incorrect, actual results and forward-looking statements may vary
materially from those described herein. IMPACT does not assume the obligation to update any
forward-looking statement.
The Company's decision to place a mine into production, expand a mine, make other production
related decisions or otherwise carry out mining and processing operations, is largely based on
internal non-public Company data and reports based on exploration, development and mining work
by the Company's geologists and engineers. The results of this work are evident in the discovery
and building of multiple mines for the Company and in the track record of mineral production and
financial returns of the Company since 2006. Under NI 43-101 the Company is required to disclose
that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve
estimates, preliminary economic assessments or feasibility studies, and historically such projects
have increased uncertainty and risk of failure.
SOURCE
IMPACT Silver Corp.
View original content:
http://www.newswire.ca/en/releases/archive/November2018/30/c8179.html
%SEDAR: 00001640E
For further information:
Jerry Huang, CFO | Investor Relations, (604) 681 0172 or
CO: IMPACT Silver Corp.
CNW 18:31e 30-NOV-18