Defiance Appoints Mine Developer as Chairman
July 21, 2016
Defiance Silver Corp. is pleased to announce that Peter J. Hawley, BSc, BEng, PGeo. has joined Defiance as a Director and Chairman of the Board.
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Defiance Silver Corp. is pleased to announce that Peter J. Hawley, BSc, BEng, PGeo. has joined Defiance as a Director and Chairman of the Board.
States Kootenay President and CEO James McDonald “We are very pleased to proceed with our drill program on La Cigarra and the highly prospective nearby RAM target. This is a key drill campaign that will aid us in our goal of expanding known resources with focus on understanding and expanding high-grade silver zones extending from within the La Cigarra resource prior to proceeding with a Preliminary Economic Assessment on the project. We are also very excited to conduct a maiden drill program on the nearby RAM target that is a large, structurally controlled 3.8 kilometre anomalous silver trend that offers significant potential to further add to our current silver resources.”
The net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes and exploration of the Sierra Mojada Project. The Company has agreed to pay an aggregate cash commission of CDN$30,060, in addition to an aggregate of 200,400 non-transferable common share purchase warrants to a broker. Each Placement Agent’s Warrant entitles the holder thereof to acquire one Common Share until the date that is two years following closing of the Private Placement at CDN$0.205 and is subject to the acceleration provision noted above.
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