Offering funds exploration and development of silver assets in Mexico
By Devika Patel
Knoxville, Tenn., June 17 – Impact Silver Corp. said it raised C$248,765 in the fourth and final tranche of a C$5 million private placement of units. The deal priced for at least C$3 million on May 20, raised C$2.53 million on May 27, raised C$795,264 on June 3 and raised C$1.38 million on June 10.
The company sold 8,771,930 units of one common share and a half-share warrant at C$0.57 per unit. It sold about 4.44 million units in the first tranche, 1,395,200 units in the second tranche, 2,412,300 units in the third tranche and 436,430 units in the final tranche.
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.
The offering is being 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 for 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$5 million
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| Units: | 8,771,930
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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 dates: May 27 (for C$2,530,800), June 3 (for C$795,264), June 10 (for C$1,375,011), June 17 (for C$248,765)
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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$42.92 million
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