- Defiance Silver (DEF) has closed its brokered private placement of 12,777,778 units at a price of C$0.90 per unit
- The offering, led by Red Cloud Securities, generated gross proceeds of C$11,500,000
- Defiance intends to use the proceeds for exploration of the company’s projects and for general working capital purposes
- The agents received a cash commission of C$605,152 and 672,391 non-transferable compensation options
- Defiance Silver is an exploration company
- Defiance Silver Corp. (DEF) is down 1.08 per cent, trading at C$0.92 per share at 2:15 pm ET
Defiance Silver (DEF) has closed its brokered private placement of 12,777,778 units at a price of C$0.90 per unit.
The offering, led by Red Cloud Securities Inc. and including Canaccord Genuity Corp. and Jett Capital Advisors LLC, generated gross proceeds of C$11,500,000.
Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of C$1.35 per share until June 10th, 2023.
Defiance intends to use the proceeds for exploration of the company’s projects and for general working capital purposes.
The agents received a cash commission of C$605,152 and 672,391 non-transferable compensation options, entitling the agents to purchase one unit of the company at a price of C$0.90 until June 10, 2023.
Insiders of Defiance subscribed for a total of 91,222 Units for total gross proceeds of $82,100.
All securities issued are subject to a four-month hold period expiring on October 11, 2021.
The offering remains subject to the final approval of the TSX Venture Exchange.
Defiance Silver is an exploration company advancing the district-scale San Acacio Deposit, located in the historic Zacatecas Silver District and the 100% owned Tepal Gold/Copper Project in Michoacán state, Mexico.
Defiance Silver Corp. (DEF) is down 1.08 per cent, trading at C$0.92 per share at 2:15 pm ET.
