Defiance Silver Announces Closing of Private Placement Financing
Rhea-AI Summary
Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) has closed the final tranche of its non-brokered private placement, raising total gross proceeds of C$3,222,615. The offering consisted of units priced at C$0.20, with each unit comprising one common share and half a warrant. Each full warrant allows the purchase of one common share at C$0.35 within 24 months.
The company issued 16,113,075 units in total across two tranches. The net proceeds will fund exploration and working capital. In connection with the offering, Defiance paid C$110,868 in cash commissions and issued 748,453 non-transferable finder warrants. Securities from the final tranche are subject to a four-month hold period expiring November 26, 2024.
Positive
- Raised C$3,222,615 in gross proceeds through private placement
- Issued 16,113,075 units, increasing available capital
- Each warrant allows purchase of shares at C$0.35, potentially bringing in additional future capital
Negative
- Dilution of existing shareholders due to issuance of new shares
- Additional 748,453 finder warrants issued, potentially leading to further dilution
News Market Reaction
On the day this news was published, DNCVF gained 2.04%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to announce that it has closed the second and final tranche ("Final Tranche") on July 26th, 2024 (the "Closing Date") of its previously announced non-brokered private placement offering (the "Offering") of units of the Company (the "Units") at a price of C
Marketed Offering
Each Unit is comprised of one common share of the Company (each a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will be exercisable by the holder thereof to acquire one common share of the Company (each a "Warrant Share") at a price of C
The net proceeds of the Offering will be used by the Company for exploration and general working capital purposes. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in this Final Tranche of the Offering are subject to a four-month hold period, expiring on November 26, 2024.
In connection with the closing of the Offering, the Company paid finder's fees comprised of an aggregate cash commission
About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing, and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to advance our projects through capital-efficient exploration focused on resource growth and new mineral discoveries.
On behalf of Defiance Silver Corp.
"Chris Wright"
Chairman of the Board
For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at info@defiancesilver.com.
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Tel: +1 (604) 343-4677
Email: info@defiancesilver.com
Disclaimer
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.
Caution Regarding Forward-Looking Information
Information contained in this news release which are not statements of historical facts may be "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information and statements involve known and unknown risks and uncertainties that may cause Defiance's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. The words "believe", "expect", "anticipate", "contemplate", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule", "understand" and similar expressions identify forward-looking information.
Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from Defiance's Mexican activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Accordingly, all such factors should be considered carefully when making decisions with respect to Defiance, and prospective investors should not place undue reliance on forward-looking information. Forward-Looking information in this news release is made as at the date hereof. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218088
FAQ
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