Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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 Michoac√°n state, Mexico.

Defiance Silver Corp. (DEF) is down 1.08 per cent, trading at C$0.92 per share at 2:15 pm ET.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.