Defiance Silver Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Defiance Silver Corp Announces Private Placement Of Up to CAD10 Million
Defiance Silver Corp announced a non-brokered private placement (the Offering) of up to 33,333,400 units of the Company (the Units) at a price of $0.30 per Unit for gross proceeds of up to $10,000,000, with a minimum of 13,333,400 units for gross proceeds of $4,000,000. The Offering is subject to an overallotment option whereby the Company may increase the Offering by up to 50% depending on market demand. Each Unit will consist of one common share of the Company, one full common share purchase warrant (Warrant) and one Silver Participation Right (SPR). Each Warrant will entitle the holder to purchase one common share of the Company for a period of twelve months from the closing date of the Offering at a price of $0.65 per common share. Each Silver Participation Right will entitle the holder to receive 0.005 ounces of silver bullion or the equivalent value in Canadian dollars (being C$0.15 based on a CAD30 per ounce silver price) from the Company's future silver production. The proceeds from the Offering will be used at the discretion of the Company for: general working capital purposes; to refurbish the Santa Gabriela processing plant and to develop the 10 mineral property concessions or licences, all held under option from IMPACT Silver Corp; and to develop the San Acacio Mineral property as held under a Property Option Agreement.
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