Defiance Silver Corp. announced a non-brokered private placement of up to 30,000,000 units at a price of CAD 0.10 unit for gross proceeds of up to CAD 3,000,000 on February 5, 2024. Each unit shall consist of one common share and one half of one common share purchase warrant.

Each warrant will be exercisable by the holder thereof to acquire one common share at a price of CAD 0.20 at any time on or before the date which is 24 months after the closing date. The transaction is scheduled to close on or around February 14, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The units will be subject to certain resale restrictions, including a restricted period of four months following the distribution date, under applicable Canadian securities legislation.