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Trading Symbol: "IPT: TSX.V"
VANCOUVER, July 25, 2019 /CNW/ - IMPACT Silver Corp.
("IMPACT" or the "Company") is pleased to announce that it has
completed the second tranche (the "Second Tranche") of the
non-brokered private placement originally announced on June 19, 2019 and subsequently updated on
July 8, 2019 and July 18, 2019 (the "Private Placement"). At
closing of the Second Tranche, the Company received aggregate gross
proceeds of $714,279.80 from the
issuance of 2,747,230 units (the "Units") of the Company at a
price of $0.26. 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 $0.30 and expires
in 36 months from the date of closing. 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.
Frederick Davidson, CEO and
President of IMPACT comments "Given the substantial interest in
silver and rising price of the metal recently, we aim to
re-invigorate our exploration activities on one of the largest
historical and prolific high grade silver and gold districts in
Mexico with the proceeds of the
financing. "
As announced on July
18th, the Company intends to complete a third
tranche of the Private Placement of up to 10,344,828 units at an
increased price of $0.29 per unit
(each a "Third Tranche Unit") consisting of one Share and one
common share purchase warrant exercisable for a 36-month period
following their issuance at an exercise price of $0.385 per Share, for additional gross proceeds
of up to $3,000,000.
In consideration for their services, the Company has paid
finders fees to Raymond James Ltd. and Canaccord Genuity Corp. in
the amount of $18,200 and
$12,867.40, respectively. Such
cash commissions equal 7% of the gross subscription proceeds raised
from certain subscribers in the Private Placement.
The Private Placement is subject to certain conditions
including, but not limited to, the receipt of all necessary
regulatory approvals, including final 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
$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 Third Tranche 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 Third Tranche 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.