Vancouver, British Columbia--(Newsfile Corp. - March 27, 2014) - Defiance Silver Corp. (TSXV: DEF) (the "Company"), announces that further
to its news release dated January 28, 2014, it has closed the third and final
tranche of the private placement consisting of 20,000,000 units at $0.05 with
each unit composed of one share and one warrant for proceeds of $1,000,000. Of
the 20,000,000 units in the third tranche, 18,000,000 units will be held in
escrow pending final approval of the TSX Venture Exchange.
The completion of this placement will result in Windermere
Capital Funds SPC - Breakaway Strategic Segregated Portfolio ("Breakaway")
owning 20,000,000 shares and 20,000,000 warrants of the Company. This will
represent 41.6% of the issued shares of the Company on a non-diluted basis and
58.7% on a diluted basis. The Company has received completed shareholder consent
resolutions representing 59.97% of the Company's issued and outstanding shares,
approving this new control position.
The units are subject to a hold period expiring July 27, 2014.
No finder's fees were paid in connection with the closing of this third and
final tranche.
Breakaway is a mining centric fund which brings a hands-on
approach to its investments. Through its partners in the mining and off-take
businesses, Breakaway is able to assess opportunities and selectively invest in
small and mid-cap companies. The Fund's objective is to achieve long-term
capital appreciation and protection from inflation over a full business cycle
(4-5 years). The Fund invests in a portfolio of precious, base and strategic
metals assets through a variety of securities and investments.
About Defiance Silver Corp.:
Defiance is engaged in the acquisition and exploration of
advanced silver projects in the historic Zacatecas Silver District, Mexico. The
Company's efforts are focused on the potential to expand the current resource at
the San Acacio deposit with its past production of 75 to 100 million ounces of
silver.
On behalf of the Directors,
"Bruce Winfield"
Director/CEO
For additional information please visit the Company's website
at www.defiancesilver.com.
Neither the 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
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