IMPACT Silver Announces C$7.0 Million Non-Brokered Private Placement Financing

About this update from Impact Silver Corp.

IMPACT Silver Announces C$7.0 Million Non-Brokered Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - April 6, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTC PINK: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce a non-brokered private placement of 25,925,926 units of the Company (the "Units") at a price of C$0.27 per Unit (the "Offering Price") for gross proceeds of up to C$7,000,000 (the "Offering").Each Unit will be comprised of one common share of the Company (a "Common Share") and one whole Common Share purchase warrant (each a "Warrant"). Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") at a price of C$0.35 per Warrant Share for a period of 24 months from 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 April 10, 2023 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (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 portion of the Offering, subject to compliance with the policies of the Exchange and applicable securities legislation.A director of the Company is expected to participate in the Offering. This participation by an insider in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. However, the Company considers such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the Units subscribed for by the insider, and the consideration for the Units paid by such insider, would not exceed 25 per cent of the Company's market capitalization.The securities described herein have not be...

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