Business
Defiance Silver Corp. Announces Closing of Brokered LIFE Offering and Concurrent Non-Brokered Offering for Total Gross Proceeds of C$16.5 Million
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2025) - Defiance Silver Corp. (TSXV: DEF)...
About this update from Defiance Silver Corp.
[{"type":"text","content":"Defiance Silver Corp. Announces Closing of Brokered LIFE Offering and Concurrent Non-Brokered Offering for Total Gross Proceeds of C$16.5 MillionVancouver, British Columbia--(Newsfile Corp. - June 20, 2025) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) (the \"Company\", or \"Defiance\") is pleased to announce the closing of the Company's previously announced \"best efforts\" private placement (the \"Brokered Offering\") for gross proceeds of C$15,000,000, which includes the full exercise of the agent's option. Under the Offering, the Company sold 60,000,000 units of the Company (each, a \"Unit\") at a price of C$0.25 per Unit (the \"Offering Price\").Each Unit consists of one common share of the Company (each, a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Common Share (a \"Warrant Share\") at a price of C$0.35 at any time on or before June 20, 2027.Red Cloud Securities Inc. (the \"Agent\") acted as sole agent and bookrunner in connection with the Brokered Offering. As consideration for their services in the Brokered Offering, the Agent received a cash commission of C$824,950 and were issued 3,299,800 non-transferable common share purchase warrants (the \"Broker Warrants\"). Each Broker Warrant is exercisable into one Common Share at the Offering Price at any time on or before June 20, 2027.The Company intends to use the net proceeds of the Brokered Offering for further exploration work on the Company's projects, to complete a mineral resource estimate at its San Acacio project, to make periodic cash option payments on its Tepal project, and to provide general working capital to support operations, as is more fully described in the amended offering document related to the Brokered Offering dated June 5, 2025. The Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (\"NI 45-106\"), as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\") and to purchasers outside of Canada (including to purchasers resident in the United States pursuant to one or more exempt...