Trading Symbol: "IPT: TSX.V"
VANCOUVER, Nov. 6, 2018 /CNW/ - IMPACT Silver Corp.
("IMPACT" or the "Company") is pleased to announce that it will
conduct a non-brokered private placement (the "Private Placement")
of up to 5,555,555 units (the "Units") of the Company at the price
of $0.27 per Unit.
Each unit will include one common share in the capital of the
Company (a "Share") and one common share purchase warrant (a
"Warrant"). Each Warrant will be exercisable into one Share at an
exercise price of $0.35 for 2 years
from the date such Warrant is issued.
The Company intends to use the proceeds of the Private Placement
to explore the Zacualpan land package for additional high potential
precious metals as well as gold-copper targets, to improve
efficiencies at the Guadalupe production mill, and for general
working capital purposes.
It is expected that the closing of the Private Placement will
occur in one or more tranches, with the first tranche closing on or
about November 14, 2018. The Private
Placement is subject to the receipt of approval of the TSX Venture
Exchange. The securities issued under the Private Placement will be
subject to a hold period of four months and one day from the
applicable closing date. The Company reserves the right to increase
the size of the Private Placement by up to 20%.
About IMPACT Silver:
IMPACT Silver Corp. is a successful silver explorer-producer
with two processing plants on adjacent districts within its 100%
owned mineral concessions covering 357km2 in central Mexico with excellent infrastructure and labor
force. Over the past thirteen years over 8.1 Moz of Silver has been
produced, generating revenues of $168
million, with no long-term debt. In the historic
Royal Mines of Zacualpan Silver
District three underground silver mines feed the central 535 TPD
Guadalupe processing plant. To the south, in the Mamatla District the Capire processing plant
is currently rated at 200 tpd, but is expandable. It is adjacent to
an open pit silver mine with a NI-43-101 compliant resource of over
4.5 Moz Silver, 48 million lbs Zinc
and 21 million lbs Lead (see IMPACT news release dated January 18, 2016 for details) that is awaiting
higher silver prices to be restarted. Since acquiring the project,
IMPACT has compiled an exhaustive database with over 5,000 old mine
workings, assayed over 50,000 rock samples and over 70,000 drill
core samples, analysed over 85,000 soil samples, and put six mines
into production. Additional information about IMPACT and its
operations can be found on the Company website
at www.IMPACTSilver.com.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking and Cautionary Statements
This IMPACT News Release may contain certain
"forward-looking" statements and information relating to IMPACT
that is based on the beliefs of IMPACT management, as well as
assumptions made by and information currently available to IMPACT
management. Forward-looking information is often, but not always,
identified by the use of words such as
"seek", "anticipate", "plan",
"continue", "planned",
"expect", "project", "predict",
"potential", "targeting",
"intends", "believe", "potential",
and similar expressions, or describes
a "goal", or variation of such
words and phrases or state
that certain actions, events or results "may",
"should", "could", "would", "might" or "will" be taken, occur or be
achieved. Such statements include, but are not
limited to, statements with respect
to the expected use of proceeds of the Private
Placement, the anticipated closing dates of the Private Placement,
and the anticipated size of the Private Placement.
Such forward-looking information involves known and unknown
risks and assumptions, including with respect to, without
limitations, risks related to the Company's ability to obtain TSX
Venture Exchange approval, exploration and development risks,
expenditure and financing requirements, title matters, operating
hazards, metal prices, political and economic factors, competitive
factors, general economic conditions, relationships with vendors
and strategic partners, governmental regulation and supervision,
seasonality, technological change, industry practices, and one-time
events. Should any one or more risks or uncertainties materialize
or change, or should any underlying assumptions prove incorrect,
actual results and forward-looking statements may vary materially
from those described herein. IMPACT does not assume the obligation
to update any forward-looking statement.
The Company's decision to place a mine into production,
expand a mine, make other production related decisions or otherwise
carry out mining and processing operations, is largely based on
internal non-public Company data and reports based on exploration,
development and mining work by the Company's geologists and
engineers. The results of this work are evident in the discovery
and building of multiple mines for the Company and in the track
record of mineral production and financial returns of the Company
since 2006. Under NI 43‑101 the Company is required to disclose
that it has not based its production decisions on NI
43‑101‑compliant mineral resource or reserve estimates, preliminary
economic assessments or feasibility studies, and historically such
projects have increased uncertainty and risk of
failure.
SOURCE IMPACT Silver Corp.