IMPACT Silver (TSXV:IPT) has announced that it has completed the brokered private placement announced on May 20, 2016.
As quoted in the press release:
The fourth tranche raised $248,765 by issue of 436,430 Units (each a âUnitâ) 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 âWarrantâ) entitles the holder to purchase one common share (each a âShareâ) 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. (âM Partnersâ) and including Clarus Securities Inc. (together with M Partners, the âAgentsâ), 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.
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