Mr. Chris Wright reports
TEPAL PROJECT OWNERSHIP CONFIRMED AND UPDATE ON PRIVATE PLACEMENT
No appeal has been filed in connection with the favourable ruling of the Mexican Court restoring Defiance Silver Corp.'s rightful ownership to the mining concessions forming part of the Tepal project (see the company's news release dated Feb. 15, 2024, for more details). As a result, the judgment is fully enforceable, and Geologix Explorations Mexico SV de CA, a subsidiary of the company, is confirmed as the legitimate and rightful owner of the concessions.
Update on private placement
On Feb. 5, the company announced a private placement of up to $3-million composed of units priced at 10 cents per unit, with each unit composed of one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one common share at a price of 20 cents per warrant share at any time on or before the date which is 24 months after the closing of the offering (see the company's news release for more details). On Feb. 28, the company announced a first closing of the offering (see the company's news release for more details).
The company intends to proceed shortly with a second closing of the offering and will issue an updating news release following the closing. The offering remains subject to the final approval of the TSX Venture Exchange.
About Defiance Silver Corp.
Defiance (TSX Venture Exchange: DEF, OTCQX: DNCVF and Frankfurt Stock Exchange: D4E) is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas silver district, and the Tepal gold/copper project in Michoacan state, Mexico. Defiance is managed by a team of proven mine developers with a record of exploring, advancing and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to expand the San Acacio and Tepal projects to become premier Mexican silver and gold deposits.
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