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IMPACT Silver Announces Closing of $3.5 Million Non-Brokered Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - December 22, 2023) - IMPACT Silver Corp. (TSXV: IP...
About this update from Impact Silver Corp.
[{"type":"text","content":"IMPACT Silver Announces Closing of $3.5 Million Non-Brokered Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - December 22, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) (\"IMPACT\" or the \"Company\") is pleased to announce that it has closed the non-brokered private placement financing of $3,500,000 previously announced on December 6th, and increased on December 8th, 2023 (the \"Offering\") to $3,500,000. The Company received aggregate proceeds of C$3,500,000 from the issuance of 20,588,235 units (the \"Units\") of the Company at C$0.17 per unit. Each unit will consist of one common share of the Company and one half of one common share purchase warrant. Each full warrant entitles the holder thereof to acquire one share from the company at a price of $0.22 per share for a period of 24 months from its date of issue.The Company intends to use the net proceeds from the Offering for exploration and development of its projects in Mexico, working capital requirements and other general corporate purposes including legal and financing fees related to the Offering.Frederick Davidson, CEO and President of the Company comments, \"I would like to thank all our investors and stakeholders for their support in this financing as we close out the year. We anticipate a robust and expanding exploration program in 2024 as we ramp up operational cash flow. Meanwhile, precious and base metal prices have recently benefited from lower forecasted interest rates and strong anticipated growth emanating from the green energy economy which will command substantial amounts of silver and zinc going forward.\"The offering was made pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the \"LIFE Exemption\"). The securities sold under the LIFE Exemption are not subject to a hold period in accordance with applicable Canadian securities laws. A copy of the offering document under the LIFE Exemption dated December 6, 2023, as amended December 8, 2023, is available electronically on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. The offering remains subject to final acceptance by the TSX Venture Exchange. In connection with the offering, the Company paid an aggregate of $58,000 in finder's fees and issued 341,298 finder's warrants (each, a \"...