Business
IMPACT Silver Closes $554,210 Third and Final Tranche of Financing of $4.95 Million
IMPACT Silver Closes $554,210 Third and Final Tranche of Financing of $4.95 Million ...
About this update from Impact Silver Corp.
[{"type":"text","content":"\n\n\n\nIMPACT Silver Closes $554,210 Third and Final Tranche of Financing of $4.95 Million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 12, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\nTrading Symbol: \"IPT: TSX.V\"\n VANCOUVER, Aug. 12, 2019 /CNW/ - IMPACT Silver Corp. (\"IMPACT\" or the \"Company\"), the Company is pleased to announce that it has completed its second series of the third and final tranche of the non-brokered private placement (the \"Third Tranche\"), first announced on June 19, 2019, and subsequently updated on July 8, 2019, July 18, 2019, July 25, 2019 and August 6, 2019 (the \"Private Placement\"). At closing of the Third Tranche, the Company received aggregate gross proceeds of $554,209.72 from the issuance of 1,911,068 units (the \"Units\") of the Company at a price of $0.29 per Unit. Each Unit will comprise one common share in the capital of the Company (each a \"Share\") and one common share purchase warrant (each a \"Warrant\"). Each Warrant entitles the holder to acquire one Share at a price of $0.385 and expires in 36 months from the closing date. All securities issued under the Private Placement will be subject to a hold period expiring four months and one day from the applicable closing date. Within this tranche IMPACT closed $3.0 million in addition to the previously closed tranche of $1.95 million for a total of $4.95 million.\nIn closing the Private Placement, Fred Davidson, President and CEO of the Company commented: \"IMPACT Silver has always been one of the most prolific silver junior developer and producer out there with over 90% revenue exposure to silver and proven past production. Despite a limited exploration budget due to lower metal prices over the last few years, IMPACT Silver has generated success rates on exploration on par with majors having brought six projects to production since 2006. With this financing completed we will be able to allo...