Each Unit will be comprised of one common share of the
The Company intends to use the net proceeds from the Offering for exploration, development and general corporate purposes.
The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of
The Offering is scheduled to close on or about the week of
A director and an officer of the Company is expected to participate in the Offering. This participation by an insider in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. However, the Company considers such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the Units subscribed for by the insiders, and the consideration for the Units paid by such insider, would not exceed 25 per cent of the Company's market capitalization.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the '
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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. All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to future silver prices, interpretation of drill results, future work plans, the timing of closing of the Offering, proceeds received and use of funds, the potential of the Company's projects, and potential and plans for the Plomosas project, are forward looking statements. Forward-looking information is often, but not always, identified by the use of words such as 'seek', 'anticipate', 'plan', 'continue', 'planned', 'expect', 'project', 'predict', 'potential', 'targeting', 'intends', 'believe', 'potential', and similar expressions, or describes a 'goal', or variation of such words and phrases or state that certain actions, events or results 'may', 'should', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Such statements include, but are not limited to, statements with respect to the expected use of proceeds of the Private Placement.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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. There are no assurances the Company will close the acquisition of the Plomosas project. 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, except as required by law.
The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
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