IMPACT Silver Corp. ("IMPACT" or the "Corporation") is pleased to announce that it has completed the first tranche of the brokered private placement (the "Private Placement") announced on May 20, 2016. The placement raised a total of $2,530,800 by the issue of 4,440,000 worth of units (each a "Unit") at a price of $0.57 per Unit. Each Unit consists of one common share and one-half of one warrant. Each whole warrant (each a "Warrant") entitles the holder to purchase one common share (each a "Share") per Warrant at a price of $0.90 per Share for a period of 36 months from the date of issuance. 

In consideration of their services, the Corporation paid the syndicate of agents led by M Partners Inc. ("M Partners") and including Clarus Securities Inc., a commission of 5% on the value of Units issued on the Private Placement.

The net proceeds of the Offering will be used to fund the Corporation's continued exploration and development of its silver assets in Mexico, and for general working capital purposes.

The securities issued today under the Private Placement were offered and sold pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. The securities issued today are subject to a hold period until September 28, 2016, in accordance with applicable securities laws. 

Closing of the second tranche of the Private Placement is expected to be on or about June 3, 2016 or such other date as may be agreed to by the Corporation and M Partners.

On behalf of the Directors of IMPACT Silver Corp.,

"Frederick W. Davidson"
President & CEO

For more information, please contact: 
Jerry Huang
Investor Relations 
(604) 681 0172 or [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking and Cautionary Statements
This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement. 

Original Article: http://www.impactsilver.com/s/NewsReleases.asp?ReportID=750578&_Type=News-Releases&_Title=IMPACT-Silver-Closes-First-Tranche-of-Private-Placement