On September 16, 2020, Defiance Silver Corp., an exploration company advancing the district-scale San Acacio Deposit, announced they have closed a brokered private placement totalling C$10,001,100 led by Red Cloud Securities Inc.
The placement is composed of 29,415,000 unites at a price of C$0.34 per unit. Each Unit consists of one common share and one half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share of Defiance at an exercise price of C$0.48 per share until September 16, 2022.
This transaction will notably allow Defiance Silver to begin an aggressive exploration program at its Zacatecas projects.
A Fasken team composed of Frank Mariage, Youssef Fichtali, Alexandre Morin and Jean-Philippe Côté advised Defiance Silver in connection with this private placement.