Defiance Silver Corp. (“Defiance”) is pleased to announce that it has entered into a loan agreement which allows the Company to borrow up to $700,000. The proceeds provide Defiance with the funding necessary to continue its exploration of the San Acacio Silver project in Zacatecas Mexico.
The Loan is unsecured and will bear interest at the rate of 1% per month, accrued daily. It will mature on the earlier of June 19, 2019 or the date Defiance closes its next equity financing. Defiance will pay a commitment fee of 2.0% of the loan, payable on maturity or repayment in addition to issuing 2,058,800 warrants to the Lender, each warrant entitling the holder to acquire one common share of Defiance at $0.34 until June 19, 2019. The issuance of the bonus warrants will be subject to the approval of the TSX Venture Exchange.
About Defiance Silver Corp.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTC; D4E | Frankfurt) 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 7 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. A Panoramic Video on the San Acacio Deposit is available on our website.
On behalf of Defiance Silver Corp.
“Peter J. Hawley”
Interim President & CEO
Chairman of the Board, Director
information, please contact: Sunny Pannu – Corporate Development (604) 669 7315
or via email at
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