On August 18, 2020, Defiance Silver Corp. announced that it had entered into an agreement with Red Cloud Securities Inc., as lead agent and sole bookrunner, on its own behalf and, if applicable, on behalf of a syndicate of agents in connection with a best efforts, private placement of up to 20,590,000 units of the Company at a price of C$0.34 per Unit for gross proceeds of up to C$7,000,600.

Peterson McVicar acted for Red Cloud Securities Inc. with a team that included Dennis Peterson, Andrey Shamis and Adam Fishman.