Nov 22, 2010 (TheNewswire.ca via COMTEX News Network) --
(via Thenewswire.ca)
IMPACTSilver Corp. ("IMPACT" or "the Company") is pleased to announce thatfurther to its press release of November 15, 2010 (see www.sedar.com) inconnection with a private placement offering of units ("Units") toraise up to $12.5 million (the "Offering"), the Offering has beenover-subscribed and the Company is increasing the Offering to $15million. The terms of the expanded Offering remain the same.
Certaindirectors and officers of the Company may acquire Units under theOffering. Any such participation would be considered to be a relatedparty transaction as defined under Multilateral Instrument 61-101. Thetransaction will be exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101 as neither the fairmarket value of any Units issued to or the consideration paid by suchpersons will exceed 25 per cent of the Company's market capitalization.
Closingof the Offering is subject to receipt of all necessary regulatoryapprovals. The Units have not been registered under the U.S. SecuritiesAct of 1933, as amended, or any state securities laws and may not beoffered or sold in the United States absent registration or anyapplicable exemption from the registration requirements. This pressrelease does not constitute an offer to sell or the solicitation of anoffer to buy nor will there be any sale of the Units in any jurisdictionin which such offer, solicitation or sale would be unlawful.
IMPACTSilver Corp. is a profitable silver-focused mining and explorationcompany operating in Mexico with a producing silver operation at the423-square-kilometer Royal Mines of Zacualpan District. The Company isalso planning to commence operations on a 200-tonne-per-day pilot millon the adjacent 200-square-kilometer advanced Mamatla Mineral Districtwithin the next 12 months and holds a portfolio of projects with anoperational processing plant at Zacatecas. The Company has currentlyidentified over 2,000 old mine workings, representing significant futurelong term exploration potential. Additional information on IMPACT andit projects can be found on the Company's website atwww.IMPACTSilver.com .
On behalf of the Board of Directors of IMPACT Silver Corp.,
"Frederick W. Davidson"
President, CEO
For further information, please contact:
Sunny Pannu, Investor Relations
604 681 0172 or via email at inquiries@impactsilver.com
NeitherTSX Venture Exchange nor its Regulation Services Provider (as that termis defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Somestatements in this news release contain forward-looking informationThese statements include, but are not limited to, statements withrespect to proposed activities, work programs and future expenditures.These statements address future events and conditions and, as such,involve known and unknown risks, uncertainties and other factors whichmay cause the actual results, performance or achievements to bematerially different from any future results, performance orachievements expressed or implied by the statements. Such factorsinclude, among others, the effects of general economic conditions, theprice of commodities, changing foreign exchange rates, actions bygovernment authorities, title matters, environmental matters, relianceon key personnel, the ability for operational and other reasons tocomplete proposed activities and work programs, the need for additionalfinancing and the timing and amount of expenditures. IMPACT does notassume the obligation to update any forward-looking statement.
1100-543 Granville Street Telephone 604 681 0172
Vancouver, BC Canada V6C 1X8 Facsimile 604 681 6813
www.IMPACTSilver.com inquiries@IMPACTSilver.com
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