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IMPACT Silver Announces Upsize to Previously Announced Brokered Financing to C$7.0 Million
Vancouver, British Columbia--(Newsfile Corp. - August 5, 2020) -   IMPACT Silver Corp. ...
About this update from Impact Silver Corp.
[{"type":"text","content":"IMPACT Silver Announces Upsize to Previously Announced Brokered Financing to C$7.0 MillionVancouver, British Columbia--(Newsfile Corp. - August 5, 2020) -  IMPACT Silver Corp. (TSXV: IPT) (FSE: IKL) (\"IMPACT\" or the \"Company\") is pleased to announce that, due to strong investor demand, it has agreed with Red Cloud Securities Inc., as lead agent and sole bookrunner (the \"Lead Agent\"), on behalf of a syndicate, including Canaccord Genuity Corp. and Mackie Research Capital Corporation (together with the Lead Agent, the \"Agents\"), in connection with the previously announced best efforts, private placement of units of the Company (the \"Units\") at a price of C$0.95 per Unit (the \"Offering Price\"), to increase the size of the offering for gross proceeds of up to C$7,030,000 (the \"Offering\").Each Unit will be comprised of one common share of the Company (a \"Common 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 (a \"Warrant Share\") at a price of C$1.30 per Warrant Share for a period of 24 months from the closing of the Offering.The Agents will have an option (the \"Agents' Option\") to offer for sale up to an additional 3,200,000 Units at the Offering Price for additional gross proceeds of up to C$3,040,000, which Agents' Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.The Company intends to use the net proceeds from the Offering for exploration, development and general corporate purposes.The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.The Offering is scheduled to close on or about the week of August 20, 2020, or such date as agreed upon between the Company and the Lead Agent (the \"Closing\") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Exchange. The Units to be issued under the Offering will have a hold period of four months and one day from Closing. The Company may pay finder's fees or commissions on a ...