Latin American arranges $1.5-million private placement
LATIN AMERICAN Minerals Inc. has ar ranged a non-brokered private placement of up to 20 million units at a price of 7.5 cents per unit for gross proceeds of up to $1.5-million. Each unit will comprise one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share for a period of 60 months from the closing of the offering at a price of 10 cents per common share. The proceeds of the offering will be used for general working capital purposes.
Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
About Latin American Minerals Inc.
Latin American Minerals is a min eral explo ration and gold mining company that holds its core gold projects in Paraguay. The company is currently expanding its Independencia mine gold processing plant to encompass vat-leach gold recovery from mineralization extracted in open-pit bulk-mining activities at its fully permitted mining concession.
Management has identified exploration targets at Independencia mine and six new gold zones on the company’s adjacent exploration claims for drill testing. This property package comprises the company’s 15,020-hectare Paso Yobai gold project.
We seek Safe Harbor.
Gregory Gibson, Stephen Keith, Richard J Patricio, Ronald S Perry
(LAT) Shares: 85,057,700