Defiance Closes Final Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2017) - Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) ("Defiance") is pleased to announce that, further to its news release of September 25, 2017, it has closed on the final tranche of its private placement of 890,000 Units at a price of $0.30 per Unit for gross proceeds of $267,000. These Units are subject to a four month hold period expiring January 30, 2018. In total, Defiance raised $1,725,000 under its private placement.
The proceeds of the private placement will be used by Defiance to commence a drill program at the San Acacio Silver Deposit located in Zacatecas, Mexico as well as for working capital purposes.
Each Unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share of Defiance for a period of twenty-four (24) months at an exercise price of $0.45. Finder's fees of $19,440 and 64,800 finders' warrants were paid in connection with the final tranche of the private placement. Each finder's warrant entitles the holder to acquire one common share of Defiance at $0.45 for 24 months. Total finder's fees of $131,160 and 437,200 warrants were paid in connection with the private placement.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing seven operating mines to date. Defiance's corporate mandate is to expand San Acacio to become one of Mexico's premier high grade wide vein silver deposits.
On behalf of Defiance Silver Corp.
President & CEO
For more information, please contact: Sunny Pannu — Corporate Development (604) 669 7315 or via email at email@example.com
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.