Defiance Silver Corp. (TSX-V:DEF) a silver explorer and developer advancing the San Acacio Deposit in Mexico, is pleased to announce that further to its news release dated May 11, 2015, it has closed its final tranche closing, for a total of $1,208,810 of its non-brokered private placement through the issuance of 12,088,100 units at $0.10. Each unit consists of one common share and half a common share purchase warrant. Each full warrant will entitle the holder thereof to acquire an additional common share of Defiance for a period of eighteen months at an exercise price of $0.15. No finders’ fees were paid in connection with this financing. The 5,037,550 warrants issued on May 12, 2015 and the 1,006,500 warrants issued on June 2, 2015 will expire on Nov 12, 2016 and December 2, 2016 respectively. The securities issued under the offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.
Defiance also announces that it has granted 250,000 incentive stock options under its stock option plan to directors and consultants. The options are exercisable on or before June 10, 2020, at a price of $0.11.
Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 11 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
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