IMPACT Silver Corp Announces Closing of $2 Million Binding Deal Financing

About this update from Impact Silver Corp.

IMPACT Silver Corp Announces Closing of $2 Million Binding Deal FinancingVancouver, British Columbia--(Newsfile Corp. - April 17, 2020) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) ("IMPACT" or the "Company") is pleased to announce that it has closed the binding deal non-brokered financing, first announced April 13th, 2020 (the "Private Placement") to a syndicate of investors (the "Investors").The Company received aggregate gross proceeds of $2,000,000 from the issuance of 6,666,667 units (the "Units") of the Company at a price of $0.30 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 closing date. Fred Davidson, CEO of IMPACT comments, "We welcome an investor group for the full allotment of this binding financing. Given these unprecedented times of uncertainty, a stronger balance sheet ensures future growth for all stakeholders as well as offer opportunities and strategic directions on new assets.""We believe IMPACT will be a key holding in the investor's portfolio for long-term as the silver market continues to trend upwards. I want to thank our stakeholders and team for the ongoing dedication to our operation and growth."The Company intends to use the proceeds of the Private Placement to further explore the Zacualpan land package including extensions to the Veta Negra open pit and gold anomalies at Valle De Oro, mineral pre-concentration tests at the Capire Production Centre, ongoing efficiency improvements at the Guadalupe production mill, and general working capital purposes. The Company has not paid any finders fees on this transaction.The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Se...

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