IMPACT Silver Upsizes Non-Brokered Private Placement Financing to $10.2 Million
IMPACT Silver Upsizes Non-Brokered Private
Placement Financing to $10.2 Million
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTC
Pink: ISVLF) (FSE: IKL)
("IMPACT" or the "Company") is pleased to announce it is amending and
increasing its previously announced non-brokered private placement of the Company from $8.2 million to
aggregate gross proceeds of up to $10.2 million due to increased investor interest (the "Offering").
Closing of the first tranche of the Offering for gross proceeds of $7.12 million was announced in the
Company's news release dated May 21, 2024.
The revised financing has been increased to $7,000,000 from the sale of 25,925,925 units (the
"
S
tandard PP Units") at a price of $0.27 per Standard PP Unit, up from the original proposed
$3,000,000 and 11,111,111 Standard PP Units on April 30, 2024, which was subsequently upsized to
$5,000,000 and 18,518,518 Standard PP Units on May 13, 2024. This is in addition to the LIFE Offering
(defined below) of $3,200,000, bringing total size of the Offering up to $10,200,000.
Each Standard PP Unit is comprised of one common share and one full share purchase warrant (each a
"Warrant") with each Warrant entitling the holder thereof to acquire one common share of the Company
(a "Warrant Share") at a price of $0.34 per Warrant Share for a period of 24 months from its date of
issue.
The LIFE financing units remain unchanged at $0.28 per LIFE unit, each comprised of one common
share and one-half of one Warrant for gross proceeds up to $3,200,000 (the "LIFE Offering"). All other
terms from the Company's press release announcing the LIFE Offering and Standard PP Unit offering on
April 30, 2024 remain the same.
Subject to compliance with applicable regulatory requirements and in accordance with National
Instrument 45-106 -
Prospectus Exemptions
, the LIFE Offering is being made pursuant to the listed
issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). The
securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in
accordance with applicable Canadian securities laws. There is an offering document (the "Offering
Document") related to the LIFE Offering that can be accessed under the Company's profile at
www.sedarplus.ca
and on the Company's website at
impactsilver.com
. Prospective investors should
read this Offering Document before making an investment decision.
The second and final tranche of the Offering is scheduled to close on or about the week of May 27, 2024
and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals
including the approval of the TSX Venture Exchange (the "Exchange"). The Company may pay finder's
fees or commissions on a portion of the Offering, subject to compliance with the policies of the
Exchange and applicable securities legislation.
All common shares and Warrants issued as part of the
Standard PP Units will bear a hold period of four months and one day from the date of issuance.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the
United States, nor shall there be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
The securities being offered have not been, nor will they be,
registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any U.S. state
securities laws, and may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of the 1933 Act and applicable state securities laws.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District
: IMPACT owns 100% of the 211 km
2
Zacualpan
project in central Mexico where four underground silver mines and one open pit mine feed the central
500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing
pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over
4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January
18, 2016, for details and QP statement). Company engineers are reviewing Capire for a potential restart
of operations to leverage improving commodity prices. Over the past 18 years, IMPACT has developed
multiple exploration zones into commercial production and has produced over 12 million ounces of silver,
generating revenue more than $261 million.
Plomosas Zinc-Lead-Silver District:
Plomosas is a high-grade zinc producer in northern Mexico with
exceptional exploration upside potential. The Company recently began preliminary mining and
processing operations where upgrades to facilities and equipment continue. Exploration potential at
Plomosas is exceptional with only 600m of the 6 km-long structure having been explored to date. This is
in addition to other exploration targets on the 3,019-hectare property including untested copper-gold
targets with indications of high-grade material from surface. Regionally, Plomosas lies in the same
mineral belt as some of the largest carbonate replacement deposits in the world.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., is a "Qualified Person" within the meaning of NI 43-101 and has approved
the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or
(778) 887 6489 Direct
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. All statements, other than statements of
historical facts, included herein, including, without limitation, statements relating to future silver prices,
interpretation of drill results, future work plans, the timing of closing of the Offering, proceeds received
and use of funds, the potential of the Company's projects, and potential and plans for the Plomosas
project, are forward looking statements. 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. There is no assurance that (i)
the Company will be able to complete the second tranche of Offering on the terms set out above, or at all,
or (ii) that the proceeds of the Offering will be expended as contemplated.
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, except as required by law.
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.
303-543 Granville Street
Vancouver, BC, Canada V6C 1X8
Telephone
(604) 664-7707
www.impactsilver.com
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/210613