Defiance Announces Closing of $1.2M in Private Placement

http://www.marketwired.com/press-release/defiance-announces-closing-of-12m-in-private-placement-tsx-venture-def-2233856.htm

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 15, 2017) – Defiance Silver Corp. (“Defiance” or “Company”) (TSX VENTURE:DEF) (OTC:DNCVF), an emerging silver explorer currently advancing the San Acacio Silver Deposit in Zacatecas, Mexico, is pleased to announce that it is closing on a first tranche of $1,254,000 of a non-brokered private placement consisting of up to 7,000,000 units at a price of $0.30 per unit for gross proceeds of up to $2,100,000 (the “Offering”). Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire an additional common share of Defiance for a period of twenty-four (24) months at an exercise price of $0.45. The securities issued under the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws. The warrants are subject to an acceleration clause such that if the closing price of the Company’s shares on the TSX Venture Exchange is at or above $0.65 per share for a period of ten consecutive trading days during the term of the warrants, the Company may accelerate the expiry date of the Warrants to not less than 30 days following the date of notice.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s