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IMPACT ANNOUNCES ACCELERATION OF EXPIRY OF WARRANTS AND AGENT'S WARRANTS
Apr. 18, 2011 (TheNewswire.ca) -- IMPACT Silver Corp. ("IMPACT" or the "Company") announces ...
About this update from Impact Silver Corp.
[{"type":"text","content":"\nIMPACT ANNOUNCES ACCELERATION OF EXPIRY OF WARRANTS AND AGENT'S WARRANTS\n\n Apr. 18, 2011 (TheNewswire.ca) -- IMPACT Silver Corp. (\"IMPACT\" or the \"Company\") announces that it has elected to accelerate the expiry date of the warrants (the \"Warrants\") and the agent's warrants (the \"Agent's Warrants\") issued on December 14, 2010 as part of its private placement unit offering (the \"Private Placement\").Pursuant to the terms of the Private Placement, in the event that the Company's common shares trade on the TSX Venture Exchange at a volume weighted average price of $2.50 or more for a period of at least ten consecutive trading days following the date of issuance, the Company is entitled to accelerate the expiry date of the Warrants to a date which at least thirty calendar days from the date notice of such acceleration is provided to holders of Warrants. The Company has elected to provide notice of such acceleration to the holders of Warrants.Further, pursuant to the Private Placement, the Company issued to the agent, Fraser Mackenzie Limited (the \"Agent\"), the Agent's Warrants, each Agent's Warrant exercisable into a unit, consisting of one common share of the Company and one-half of one warrant (the \"Underlying Agent's Warrant\"). The Agent's Warrants and any Underlying Agent's Warrants issued are also subject to the above-noted acceleration and the Company has elected to provide notice of such acceleration to the Agent.Effective today, the Warrants issued to the purchasers pursuant to the Private Placement, the Agent's Warrants issued to the Agent and any Underlying Agent's Warrants issued are set to expire at 4 p.m. (Vancouver time) on May 26, 2011. If all of the Warrants, Agent's Warrants and Underlying Agent's Warrants are exercised, the Company will receive additional proceeds of approximately $11,679,375 and a total of 6,832,500 additional common shares of the Company will be issued.IMPACT Silver Corp. is a profitable silver-focused mining and exploration company operating in Mexico with a producing silver operation at the 423-square-kilometer Royal Mines of Zacualpan District and the adjacent 200-square-kilometer Mamatla Mineral District which is host to the Capire Mine Development Project. IMPACT also holds a portfolio of projects with an operational processing plant at Zacatecas. Additional information on I...