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Defiance Silver Climbs a Quarter in Value on Return to Trading, Mexico Acquisitions

Defiance Silver Corp (DEF.V) is up 25%, with shares gaining 10 cents to reach 50 cent each in moderate volume on their first day of trading since the stock was sidelined Aug. 24 following the miner announcing a deal to acquire mining claims, surface rights and a processing plant in Zacatecas, Mexico.

Defiance and seller Impact Silver Corp. (IPT.V) early last week revised terms of the orginal all-stock transaction to now include a $1.995 million cash payment in lieu of 4.8 million shares of Defiance stock that would have been due Impact Silver once the Santa Gabriela mill achieves commercial production.

Impact Silver shares are up 2 cents to $2.13 apiece right now.

Trading of Defiance shares had been halted while the TSX Venture Exchange reviewed both the original and revised deals. The Santa Gabriela plant currently is capable of processing 200 tons of ore per day. The purchase also includes associated surface rights as well as full or partial ownership in 13 historical silver-lead-zinc mining claims.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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