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Trading Symbol: "IPT: TSX.V"
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.
In 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 allocate the
proper greenfield exploration budget to our large land package and
projects such as San Ramon Deeps extension, Manto America, and
Santa Teresa.
Concurrent to that, with metallurgical studies we will evaluate
expansion and production possiblilities at Capire with rising
silver prices and continue to optimize Guadalupe production size
and rate. IMPACT envisions a busy 2019 for news flow and updates
for investors as the Company is well positioned as the premier
junior silver miner and developer in Mexico."
In consideration for their services, the Company has paid
finders fees to Canaccord Genuity Corp. in the amount of
$11,200.00, PI Financial Corp. in the
amount of $728.00 and Leede Jones
Gable Inc. in the amount of $7,003.50. Such cash commissions equal 7% of
the gross subscription proceeds raised from certain subscribers to
the Private Placement.
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.
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 357 km2 in
central Mexico with excellent
infrastructure and a supportive labor force. Over the past fourteen
years over 9 million ounces of Silver has been produced, generating
revenues of over $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. 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 gross proceeds from the issuance of Units and the
use of proceeds of the Private Placement.
Such forward-looking information involves known and unknown
risks and assumptions, including with respect to, without
limitations, the Company's inability to raise sufficient interest
in connection with the issuance of Units, the Copmany's inability
to secure the required Exchange acceptance for the final acceptance
of the Private Placement offering, offering 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.
