- IMPACT Silver (IPT) has closed its non-brokered financing previously announced on April 6th, and upsized on April 12th, 2023
- IMPACT intends to use the net proceeds for exploration, development and general corporate purposes
- IMPACT Silver engages in silver mining and related activities including exploration, development, and mineral processing in Mexico
- IMPACT Silver Corp. (IPT) opened trading at C$0.33 per share
IMPACT Silver (IPT) has closed its non-brokered financing previously announced on April 6th, and upsized on April 12th, 2023.
The company received an aggregate proceeds of $8,343,813.24 from the issuance of 30,903,012 units at C$0.27 per unit.
Financing details
Each unit is comprised of one common share and one full common share purchase warrant. Each warrant is exercisable to acquire one additional common share at $0.35 per warrant share for 24 months following closing.
IMPACT intends to use the net proceeds for exploration, development and general corporate purposes.
The company has paid a 6 per cent cash commission and granted an aggregate of 678,871 non-transferable broker warrants to finders under the offering. Each broker warrant entitles the holder to acquire one common share at $0.35 until April 19, 2025.
All securities issued are subject to a standard hold period of four months, expiring on August 20, 2023. The offering is subject to the company’s remaining filing requirements with the TSX Venture Exchange.
A director of the company also participated in the offering.
The company plans to follow up with a small second tranche for gross proceeds of up to $500,000 or up to 1,851,851 units. The units will have the same terms as the units sold under the current offering and largely allocated waiting payment and documentation reviews. The company expects to close this second tranche by the end of April.
About IMPACT Silver
IMPACT Silver engages in silver mining and related activities including exploration, development, and mineral processing in Mexico.
The company operates a series of mines near Zacualpan in the state of Mexico and in Guerrero state. It produces silver, lead, zinc, and gold sold in the form of lead and zinc concentrates.
IMPACT Silver Corp. (IPT) opened trading at C$0.33 per share.