IMPACT Silver Corp. (TSX.V:IPT) is pleased to announce that it has completed the second tranche of the non-brokered private placement originally announced on June 19, 2019 and subsequently updated on July 8, 2019 and July 18, 2019.  At closing of the Second Tranche, the Company received aggregate gross proceeds of $714,279.80 from the issuance of 2,747,230 units of the Company at a price of $0.26.  Each Unit will comprise one common share in the capital of the Company and one common share purchase warrant.  Each Warrant entitles the holder to acquire one Share at a price of $0.30 and expires in 36 months from the date of closing.  All securities issued under the Private Placement will be subject to a hold period expiring four months and one day from the applicable closing date. 

Frederick Davidson, CEO and President of IMPACT comments “Given the substantial interest in silver and rising price of the metal recently, we aim to re-invigorate our exploration activities on one of the largest historical and prolific high grade silver and gold districts in Mexico with the proceeds of the financing. ”

As announced on July 18^th, the Company intends to complete a third tranche of the Private Placement of up to 10,344,828 units at an increased price of $0.29 per unit consisting of one Share and one common share purchase warrant exercisable for a 36-month period following their issuance at an exercise price of $0.385 per Share, for additional gross proceeds of up to $3,000,000.

In consideration for their services, the Company has paid finders fees to Raymond James Ltd. and Canaccord Genuity Corp. in the amount of $18,200 and $12,867.40, respectively. Such cash commissions equal 7% of the gross subscription proceeds raised from certain subscribers in the Private Placement.

The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including final acceptance of the TSX Venture Exchange.

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 357 km2 in central Mexico with excellent infrastructure and a supportive labor force. Over the past fourteen years over 9 million ounces 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.