Offering funds exploration and development of silver assets in Mexico
By Devika Patel
Knoxville, Tenn., May 20 – Impact Silver Corp. said it will raise at least C$3 million private placement of units.
The company will sell at least 5,263,158 units of one common share and a half-share warrant at C$0.57 per unit.
Each whole warrant is exercisable at C$0.90 for three years. The strike price reflects a 30.44% premium to the May 19 closing share price of C$0.69.
Settlement of the first tranche is expected May 27.
The offering will be conducted through a syndicate of agents led by M Partners Inc. and including Clarus Securities Inc.
Proceeds will be used for exploration and development of silver assets in Mexico and general working capital purposes.
Based in Vancouver, B.C., Impact is a silver exploration and development company focused on projects in Mexico and the Dominican Republic.
| Issuer: | Impact Silver Corp.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$3 million (minimum)
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| Units: | 5,263,158 (minimum)
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| Price: | C$0.57
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.90
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| Bookrunners: | M Partners Inc. (lead), Clarus Securities Inc.
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| Pricing date: | May 20
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| Settlement date: | May 27
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| Stock symbol: | TSX Venture: IPT
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| Stock price: | C$0.69 at close May 19
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| Market capitalization: | C$44.28 million
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