Defiance Silver Corp. announced a non-brokered private placement of units at a price of CAD 0.20 per unit on July 12, 2024. Each unit is comprised of one common share of the Company and one-half of one common share purchase warrant. Each Warrant will be exercisable by the holder thereof to acquire one common share of the Company at a price of CAD 0.35 at any time on or before the date which is 24 months after the Closing Date. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in this Offering are subject to a four-month hold period, expiring on November 13, 2024.

On the same day, the company issued 13,069,500 units at a price of CAD 0.20 per unit for the gross proceeds of CAD 2,613,900 in its first tranche closing. In connection with the closing of the Offering, the Company paid finder's fees comprised of an aggregate cash commission CAD 146,809.00 and an aggregate of 633,870 non-transferable warrants to arm-length finders