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SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
Trading Symbol: "IPT: TSX.V"
VANCOUVER, June 17, 2016 /CNW/ - IMPACT Silver Corp.
("IMPACT" or the "Corporation") is pleased to announce that it has
completed the brokered private placement (the "Private Placement")
announced on May 20, 2016. The
fourth tranche raised $248,765 by
issue of 436,430 Units (each a "Unit") at a price of $0.57 per Unit. In total, the Private Placement
raised aggregate proceeds of $5,000,000 by the issue of 8,771,930 Units at a
price of $0.57 per Unit. 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.
In consideration of their services, the Corporation paid the
syndicate of agents led by M Partners Inc. ("M Partners") and
including Clarus Securities Inc. (together with M Partners, the
"Agents"), a commission of 5% on the value of Units issued via the
Agents 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.
All of the securities issued today under the Private Placement
were offered and sold pursuant to applicable exemptions from the
prospectus requirements under applicable securities laws. The
securities issued today are subject to a hold period until
October 18, 2016, in accordance with
applicable securities laws.
On behalf of the Directors of IMPACT Silver Corp.,
"Frederick W. Davidson"
President & CEO
Neither 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.
Forward-Looking and Cautionary Statements
This IMPACT
News Release may contain certain "forward-looking" statements and
information relating to IMPACT that is based on the beliefs of
IMPACT management, as well as assumptions made by and information
currently available to IMPACT management. Such statements
reflect the current risks, uncertainties and assumptions related to
certain factors including but not limited to, without limitations,
exploration and development risks, expenditure and financing
requirements, title matters, operating hazards, metal prices,
political and economic factors, competitive factors, general
economic conditions, relationships with vendors and strategic
partners, governmental regulation and supervision, seasonality,
technological change, industry practices, and one-time
events. Should any one or more risks or uncertainties
materialize or change, or should any underlying assumptions prove
incorrect, actual results and forward-looking statements may vary
materially from those described herein. IMPACT does not
assume the obligation to update any forward-looking statement.
SOURCE IMPACT Silver
