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Defiance Announces Upsizing of Previously Announced Brokered Private Placement for up to C$11.5 Million
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2021) - Defiance Silver Corp. (TSXV: D...
About this update from Defiance Silver Corp.
[{"type":"text","content":"Defiance Announces Upsizing of Previously Announced Brokered Private Placement for up to C$11.5 MillionVancouver, British Columbia--(Newsfile Corp. - May 25, 2021) - Defiance Silver Corp. (TSXV: DEF) (\"Defiance\" or the \"Company\") is pleased to announce that due to significant demand, the Company has increased the size of its previously announced private placement with Red Cloud Securities Inc. (\"Red Cloud\") to sell up to 12,777,778 units of the Company (the \"Units\") at a price of C$0.90 per Unit (the \"Offering Price\") for gross proceeds of up to C$11,500,000 (the \"Offering\"). The Company and Red Cloud have further agreed to eliminate the previously disclosed agent's option. Each Unit will be comprised of one common share of the Company (each, a \"Unit Share\") and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable to acquire one common share of the Company (each, a \"Warrant Share\") at a price of C$1.35 at any time on or before the date which is 24 months after the closing date of the Offering.The Company intends to use the net proceeds from the Offering for exploration of the Company's projects and for general working capital purposes. The Offering is scheduled to close on or around June 9, 2021 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 Unit Shares and Warrant Shares will have a hold period of four months and one day from Closing.The securities described herein have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.About Defiance Silver Corp.Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company advancing the district-scale San Acacio Deposit, located in the historic Zacatecas Silver District and the 100% owned Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a te...