Defiance Silver Corp. reports exploration and corporate developments for precious and base metal projects in Mexico. The company focuses on the Zacatecas Project in the historic Zacatecas Silver District, the 100%-owned Tepal Gold-Copper Project in Michoacán, and the Green Earth Metals property portfolio in Sonora State.
Recurring news includes diamond drilling and trench sampling results at San Acacio and the Veta Grande system, environmental authorizations from SEMARNAT, surface access arrangements for exploration targets, and project data that supports mineral-resource work. Company updates also cover shareholder-meeting results, board and auditor approvals, omnibus plan matters, and financing-related disclosures.
Defiance Silver Corp. (TSXV: DEF) has issued a clarifying news release regarding statements made on July 12, 2024. The company clarifies that its engagement with AXINO Media GmbH for investor relations services began on July 1, 2024, not earlier as previously stated. AXINO is a private investor relations firm based in Germany, specializing in representing resource sector companies in European financial markets.
Additionally, Defiance Silver corrects that an administrative services agreement with an officer of the company, previously described as arm's length, is in fact non-arm's length. The company reiterates its focus on advancing the Zacatecas project in Mexico's historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state.
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.
Defiance Silver announced the closure of the first tranche of a non-brokered private placement, raising C$2,613,900 through the sale of units at C$0.20 each. Each unit comprises one common share and one-half of a warrant, each warrant exercisable at C$0.35 within 24 months. The proceeds will be used for exploration and working capital.
Additionally, the company paid finder's fees, including C$146,809 in cash and 633,870 non-transferable warrants. Director Ron Sowerby purchased 100,000 units, constituting a related party transaction exempt from formal valuation and minority approval requirements as per Regulation 61-101.
Defiance also entered into a corporate communication service agreement with AXINO Media GmbH for annual payments of €50,000 and additional fees for translation services. The company will issue 52,375 shares at an average price of C$0.179 per share for administrative services provided from January to June 2024.
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