RE:IMPACT Silver Announces Private Placement
IMPACT Silver Announces Private Placement Published: May 20, 2016 11:27 a.m. ET VANCOUVER, BRITISH COLUMBIA, May 20, 2016 (Marketwired via COMTEX) -- VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2016) - IMPACT Silver Corp. (IPT) ("IMPACT" or the "Corporation") is pleased to announce a brokered private placement (the "Private Placement") of a minimum of $3,000,000 worth of units (each a "Unit"), at a price of $0.57 per Unit (a minimum of 5,263,158 units). Each Unit consists of one common share and one-half of one warrant. Each whole warrant (each a "Warrant") entitles the holder to purchase one common share (each a "Share") per Warrant at a price of $0.90 per Share for a period of 36 months from the date of issuance. The Corporation is pleased to announce that it has appointed a syndicate of agents led by M Partners Inc. ("M Partners") and including Clarus Securities Inc. to sell the Units by way of Private Placement. As per the terms of the appointment of the syndicate of agents, the Corporation will pay a commission of 7% on the value of Units issued on the Private Placement and issue to the agents Warrants equal to 7% of the number of Units issued on the Private Placement. The net proceeds of the Offering will be used to fund the Corporation's continued exploration and development of its silver assets in Mexico, and for general working capital purposes. This proposed Private Placement is subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange, as well as the negotiation and execution of definitive documentation. The Securities to be issued under the Private Placement will be offered pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Closing of the Private Placement is anticipated to occur in one or more tranches with the first tranche expected to close on or about May 27, 2016 or such other date as may be agreed to by the Corporation and M Partners (the "Closing Date"). The securities issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the Closing Date in accordance with applicable securities legislation. On behalf of the Directors of IMPACT Silver Corp., Frederick W. Davidson Read more at https://www.stockhouse.com/companies/bullboard/v.ipt/impact-silver-corp#vSzrL3HCIU0r47dA.99