IMPACT Silver Closes Series One of Third Tranche of Financing Totalling $2.445M
IMPACT Silver Closes Series One of Third
Tranche of Financing Totalling $2.445M
/ NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES
OR FOR DISSEMINATION IN
THE UNITED STATES
/
Trading Symbol: "IPT: TSX.V"
VANCOUVER
,
Aug. 6, 2019
/CNW/ - IMPACT Silver Corp. ("IMPACT" or the "Company") is pleased
to announce that it has completed the first series of the third tranche (the "Third Tranche") of the
non-brokered private placement originally announced on
June 19, 2019
and subsequently updated on
July 8, 2019
,
July 18, 2019
and
July 25, 2019
(the "Private Placement"). At closing of the Third
Tranche, the Company received aggregate gross proceeds of
$2,445,790.11
from the issuance of
8,433,759 units (the "Units") of the Company at a price of
$0.29
. Each Unit will comprise one
common share in the capital of the company (each a "Share") and one common share purchase
warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Share at a price of
$0.385
and expires in 36 months from the date of closing. All securities issued under the Private
Placement will be subject to a hold period expiring four months and one day from the applicable
closing date.
The Company intends to complete a second series of the third tranche of the Private Placement of
up to 1,911,069 units on the same terms as those securities described above, for additional gross
proceeds of up to
$554,210
. The Company intends to close the second series of the third tranche
of the Private Placement by
August 9, 2019
.
In consideration for their services, the Company has paid a finders fee to Canaccord Genuity Corp.
in the amount of
$49,998.90
, INFOR Financial Inc. for
$55,999.99
. Such cash commissions equal
7% of the gross subscription proceeds raised from certain subscribers in the Private Placement.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory approvals, including final acceptance of the TSX Venture Exchange.
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 357 km2 in central
Mexico
with
excellent infrastructure and a supportive labor force. Over the past fourteen years over 9 million
ounces 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. 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 gross proceeds from the issuance of units and the expected closing date of the second
series of the third tranche and the use of proceeds of the Private Placement.
Such forward-looking information involves known and unknown risks and assumptions, including with
respect to, without limitations, the Company's inability to raise sufficient interest in connection with
the issuance of Third Tranche Units, the Copmany's inability to secure the required Exchange
acceptance for the final acceptance of the Private Placement offering, offering 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/August2019/06/c0228.html
%SEDAR: 00001640E
For further information:
Jerry Huang, CFO | Investor Relations, (604) 681 0172 or
CO: IMPACT Silver Corp.
CNW 13:58e 06-AUG-19