/NOT FOR DISTRIBUTION TO U.S. NEWS
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
Trading Symbol: "IPT: TSX.V"
VANCOUVER, Nov. 30, 2018 /CNW/ - IMPACT Silver Corp.
("IMPACT" or the "Company") is pleased to announce that it has
completed the first tranche of the non-brokered private
placement (the "Private Placement") announced on November 6, 2018. The first tranche raised a
total of $548,505 from the issuance
of 2,031,500 units (each a "Unit") at a price of $0.27 per Unit. Each Unit consists of one common
share (a "Share") and one warrant (a "Warrant"). Each Warrant
entitles the holder to acquire one Share at a price of $0.35 and expires in 24 months.
The Company intends to use the proceeds of the Private Placement
to explore the Zacualpan land package for additional high potential
precious metals as well as gold-copper targets, to improve
efficiencies at the Guadalupe production mill, and for general
working capital purposes.
In consideration of their services, the Corporation has paid to
certain finders a cash commission equal to up to 6% of the gross
subscription proceeds raised from certain subscribers in the
Private Placement.
The Private Placement is subject to the receipt of final
approval from the TSX Venture Exchange.
The Shares and Warrants issued under the Private Placement today
are subject to a standard hold period of four months and one day,
expiring on March 31, 2019, all in
accordance with applicable securities laws.
Closing of the second tranche of the Private Placement is
expected to occur on or about December
3rd, 2018 or such other date as may be determined
by the Corporation.
About IMPACT Silver:
IMPACT Silver Corp. is a successful silver explorer-producer
with two processing plants on adjacent districts within its 100%
owned mineral concessions covering 357km2 in central
Mexico with excellent
infrastructure and labor force. Over the past twelve years over 8.1
Moz of Silver has been produced, generating revenues of
$168 million, with no long-term debt.
In the historic Royal Mines of
Zacualpan Silver District three underground silver mines feed the
central 535 TPD Guadalupe processing plant. To the south, in the
Mamatla District the Capire
processing plant is currently rated at 200 tpd, but is expandable.
It is adjacent to an open pit silver mine with a National
Instrument 43-101 ("NI 43-101") compliant resource of over 4.5
Moz Silver, 48 million lbs Zinc and
21 million lbs Lead (see IMPACT news release dated January 18, 2016 and titled "IMPACT Announces an
Updated Mineral Resource Estimate at Capire" for details) that is
awaiting higher silver prices to be restarted. Since acquiring the
project, IMPACT has compiled an exhaustive database with over 5,000
old mine workings, assayed over 50,000 rock samples and over 70,000
drill core samples, analysed over 85,000 soil samples, and put six
mines into production. Additional information about IMPACT and its
operations can be found on the Company website
at www.IMPACTSilver.com.
On behalf 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.
Forward-looking information is often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "continue",
"planned", "expect", "project", "predict", "potential",
"targeting", "intends", "believe", "potential", and similar
expressions, or describes a "goal", or variation of such words and
phrases or state that certain actions, events or results "may",
"should", "could", "would", "might" or "will" be taken, occur or be
achieved. Such statements include, but are not limited to,
statements with respect to the expected use of proceeds of the
Private Placement and the anticipated closing dates of future
tranches of the Private Placement.
Such forward-looking information involves known and unknown
risks and assumptions, including with respect 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.
The Company's decision to place a mine into production, expand a
mine, make other production related decisions or otherwise carry
out mining and processing operations, is largely based on internal
non-public Company data and reports based on exploration,
development and mining work by the Company's geologists and
engineers. The results of this work are evident in the discovery
and building of multiple mines for the Company and in the track
record of mineral production and financial returns of the Company
since 2006. Under NI 43-101 the Company is required to disclose
that it has not based its production decisions on NI 43-101
compliant mineral resource or reserve estimates, preliminary
economic assessments or feasibility studies, and historically such
projects have increased uncertainty and risk of failure.
SOURCE IMPACT Silver Corp.
