Latin Amer­i­can ar­ranges $1.5-mil­lion pri­vate place­ment

Stockwatch Daily - - MINES & METALS - Mr. Mathew Wil­son re­ports

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

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.