Tepal Project Ownership Confirmed and Update on Private Placement
In This Article:
Vancouver, British Columbia--(Newsfile Corp. - March 7, 2024) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to report that no appeal has been filed in connection with the favorable ruling of the Mexican Court restoring the Company's rightful ownership to the mining concessions forming part of the Tepal project (see the Company's news release dated February 15, 2024 for more details). As a result, the judgement is now fully enforceable, and Geologix Explorations Mexico, S.V de C.A, a subsidiary of the Company, is now confirmed as the legitimate and rightful owner of the concessions.
Update on Private Placement
On February 5th, the Company announced a private placement of up to C$3,000,000 comprised of units priced at $0.10 per unit (the "Offering"), with each unit comprised of one common share of the Company (each a "Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one Common Share (each a "Warrant Share") at a price of C$0.20 per Warrant Share at any time on or before the date which is 24 months after the closing of the Offering (see the Company's news release for more details). On February 28th, the Company announced a first closing of the Offering (see the Company's news release for more details).
The Company intends to proceed shortly with a second closing of the Offering and will issue an updating news release following the closing. The Offering remains subject to the final approval of the TSX Venture Exchange.
About Defiance Silver Corp.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTCQX; D4E | Frankfurt) is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing, and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to expand the San Acacio and Tepal projects to become premier Mexican silver and gold deposits.
On behalf of Defiance Silver Corp.
"Chris Wright"
CEO & Chairman of the Board
For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at [email protected]
www.defiancesilver.com
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Tel: +1 (604) 343-4677
Email: [email protected]