Impact Announces Acceleration of
Expiry of Warrants And Agent's Warrants
IMPACT Silver Corp.
("IMPACT" or the "Company") announces that it has elected
to accelerate the expiry date of the warrants (the "Warrants") and
the agent's warrants (the "Agent's Warrants") issued on December 14, 2010
as part of its private placement unit offering (the "Private
Pursuant to the terms of the Private Placement, in the event that the Company's
common shares trade on the TSX Venture Exchange at a volume weighted average
price of $2.50 or more for a period of at least ten consecutive trading days
following the date of issuance, the Company is entitled to accelerate the
expiry date of the Warrants to a date which at least thirty calendar days from
the date notice of such acceleration is provided to holders of Warrants. The
Company has elected to provide notice of such acceleration to the holders of
Further, pursuant to the Private Placement, the Company issued to the agent,
Fraser Mackenzie Limited (the "Agent"), the Agent's Warrants, each
Agent's Warrant exercisable into a unit, consisting of one common share of the
Company and one-half of one warrant (the "Underlying Agent's
Warrant"). The Agent's Warrants and any Underlying Agent's Warrants issued
are also subject to the above-noted acceleration and the Company has elected to
provide notice of such acceleration to the Agent.
Effective today, the Warrants issued to the purchasers pursuant to the Private
Placement, the Agent's Warrants issued to the Agent and any Underlying Agent's
Warrants issued are set to expire at 4 p.m. (Vancouver time) on May 26, 2011.
If all of the Warrants, Agent's Warrants and Underlying Agent's Warrants are
exercised, the Company will receive additional proceeds of approximately
$11,679,375 and a total of 6,832,500 additional common shares of the Company
will be issued.
IMPACT Silver Corp. is a profitable silver-focused mining and exploration
company operating in Mexico with a producing silver operation at the
423-square-kilometer Royal Mines of Zacualpan District
and the adjacent 200-square-kilometer Mamatla Mineral
District which is host to the Capire Mine Development
Project. IMPACT also holds a portfolio of projects with an operational
processing plant at Zacatecas. Additional information on IMPACT and its projects
can be found on the Company's website at www.IMPACTSilver.com
On behalf of the Directors of IMPACT Silver Corp.,
"Frederick W. Davidson"
President & CEO
For further information, please contact:
Sunny Pannu, Investor Relations
(604) 681 0172
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.
This IMPACT News Release contains certain "forward-looking"
statements and information relating to IMPACT that are
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.
The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this news release.