- Defiance Silver (DEF) has increased the size of its previously announced private placement with Red Cloud Securities Inc.
- Defiance will sell up to 12,777,778 units at a price of C$0.90 per unit for gross proceeds of up to C$11,500,000
- Net proceeds from the offering will fund further exploration of the company’s projects and for general working capital purposes
- The offering is scheduled to close on June 9
- Defiance Silver is an exploration company engaged in the acquisition and exploration of assets in Mexico
- Defiance Silver Corp. (DEF) opened trading at C$0.93 per share
Defiance Silver (DEF) has increased the size of its previously announced private placement with Red Cloud Securities Inc.
Defiance will sell up to 12,777,778 units at a price of C$0.90 per unit for gross proceeds of up to C$11,500,000. Defiance and Red Cloud have also agreed to eliminate the previously disclosed agent’s option.
Each unit will be comprised of one common share and one half of one common share purchase warrant. Each warrant can be exercised for one common share at a price of C$1.35 at any time within two years of the closing date.
Net proceeds from the offering will fund further exploration of the company’s projects and for general working capital purposes.
The offering is scheduled to close on or around June 9, 2021, and is subject to certain conditions including the 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) opened trading at C$0.93 per share.