Impact Silver Corp Announces $2 Million Binding Deal Financing Impact
For Release:
April
14
, 2020
Trading Symbol: “IPT: TSX.V”
ISVLF:US
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
IMPACT SILVER CORP ANNOUNCES $2 MILLION
BINDING DEAL
FINANCING
IMPACT Silver Corp. ("IMPACT" or the "Company") is
pleased to announce that it has entered
into an agreement with a syndicate of
strategic
investors (the “Investors”)
,
led by Palisade
s
Gold
c
o
rp
Ltd
., pursuant to which the Investors have agreed to purchase, on a
binding deal
basis,
conduct a non
-
brokered private placement (the "Private Placement") of up to 6,666,667 units (the
"Units") of the Company at the price of $0.30 per Unit.
Each unit w
ill include one common share in the capital of the Company (a "Share") and one
common share purchase warrant (a "Warrant"). Each Warrant will be exercisable into one Share at
an exercise price of $0.3
8
5
for 3 years from the date such Warrant is issued.
Th
e Company will not pay any finders fee on this transaction.
The Company intends to use the proceeds of the Private Placement to further explor
e the Zacualpan
land package such as Veta
Grande open pit and gold anomalies at Valle De Oro
, Dense Media
Separation (DMS) engineering studies on the Capire Volcanic Massive Sulphide resource mill and
production center, ongoing efficiency improvements at
the Guadalupe production mill, as well as
general working capital purposes.
It is expected that the closing of the Private Placement will occur in one tranche on or before April
17
, 2020. The Private Placement is subject to the receipt of approval of the TSX Venture
Exchange. The securities issu
ed under the Private Placement
will be subject to a hold period of four
months and one day from the applicable closing date.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the
securities in any state in which such offer, solicitation or sale would be
unlawful. The securities have not been registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registratio
n or an applicable
exemption from the registration requirements.
About Palisade
s
Gold
c
orp
Ltd.
:
Palisades Goldcorp is Canada’s largest resource focused merchant bank
.
Palisades’ management
team has a demonstrated track record of making money and is backed
by many of the industry’s
most notable financiers. With junior resource equities valued at generational lows, management
believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with
significant stakes in undervalued
companies and assets with the goal of generating superior returns.
For more information, visit
www.palisades.ca
.
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 211km
2
in central Mexico
with excellent infrastructure and labor force. Over the past 15 years over 10 Moz of Silver has been
produced, generating revenues of over $175 million
, with no long
-
term debt. In the historic Royal
Mines of Zacualpan Silver District three underground silver mines and one open pit feed the central
535 TPD Guadalupe processing plant. To the south, in the Mamatla District the Capire processing
plant is cur
rently 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
) that is
awaiting higher silver prices to be r
estarted. Since acquiring the project, IMPACT has compiled an
exhaustive database with over 5,000 old mine workings, assayed over 34,000 rock samples and
over 54,000 drill core samples, analysed over 50,000 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
.