IMPACT Silver Corp Announces Closing of $2 Million Binding Deal Financing
IMPACT Silver Corp Announces Closing of $2 Million
Binding Deal Financing
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2020) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF)
("IMPACT" or the "Company") is pleased to announce that it has closed the binding deal non-brokered financing, first
announced April 13
th
, 2020 (the "Private Placement") to a syndicate of investors (the "Investors").
The Company received aggregate gross proceeds of $2,000,000 from the issuance of 6,666,667 units (the "Units") of the
Company at a price of $0.30 per Unit. 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 closing date. All securities issued under the Private Placement will be
subject to a hold period expiring four months and one day from the closing date.
Fred Davidson, CEO of IMPACT comments, "We welcome an investor group for the full allotment of this binding financing. Given
these unprecedented times of uncertainty, a stronger balance sheet ensures future growth for all stakeholders as well as offer
opportunities and strategic directions on new assets."
"We believe IMPACT will be a key holding in the investor's portfolio for long-term as the silver market continues to trend
upwards. I want to thank our stakeholders and team for the ongoing dedication to our operation and growth."
The Company intends to use the proceeds of the Private Placement to further explore the Zacualpan land package including
extensions to the Veta Negra open pit and gold anomalies at Valle De Oro, mineral pre-concentration tests at the Capire
Production Centre, ongoing efficiency improvements at the Guadalupe production mill, and general working capital purposes.
The Company has not paid any finders fees on this transaction.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory
approvals, including acceptance of the TSX Venture Exchange
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 registration or
an applicable exemption from the registration requirements.
About IMPACT Silver Corp.
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 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
) 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 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
.
On behalf of IMPACT Silver Corp.
"
Frederick W. Davidson"
Frederick W. Davidson
President & CEO
For more information, please contact:
Jerry Huang
CFO & Investor Relations
+236-863-2067
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
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