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Genco Resources Ltd.
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Completes $2.5 Million Placement
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Genco Resources Ltd.
Published : October 05th, 2009
Completes $2.5 Million Placement
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Keywords :
G Mexico
|
Gold
|
Gold Mine
|
Mexico
|
Silver
|
United States Of America
|
Re:
News Releases - Monday, October 05, 2009
Title:
Genco Completes $2.5 Million Placement
October 5, 2009 - Vancouver, BC - Genco Resources Ltd. (TSX: GGC)
has completed a private placement of 7,142,855 units for gross proceeds of CAD $2,500,000. Each unit consisted of one common share and one non-transferable warrant to purchase a further share for CAD $0.45 until September 30, 2011.
Genco paid a finder's fee of 6% of the proceeds and issued finder's warrants to purchase 428,571 shares exercisable at CAD $0.45 per share until September 30, 2011.
Genco's acting CEO, Robert C. Gardner, stated that, "The placement closed very quickly and, despite the short period of time in which it was open, was over-subscribed. This is indeed a strong affirmation by the investors of Genco's strategic plan."
About Genco Resources Ltd.
Genco's core asset is the producing La Guitarra silver-gold mine, located in the Temascaltepec Mining District of Mexico. La Guitarra Mine currently consists of two underground operation centres -- La Guitarra and San Rafael -- and a flotation mill with a proven capacity of 320 tonnes per day. Genco believes significant potential exists to expand production within the 39,714 hectares of mining concessions it currently owns or leases in the Temascaltepec Mining District.
For further information, please contact:
Ms. Jada Soomer
Manager, Corporate Communications
Telephone: 604-682-2205
jsoomer@gencoresources.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "
U.S. Securities Act
") or any State securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
This news release may contain certain forward-looking statements that involve risks and uncertainties such as statements of the Company's plans, objectives, strategies, expectations, and intentions. The words "may", "would", "could", "will", "intend", "plan", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including those factors discussed below and in filings made with the Canadian securities regulatory authorities. Should one or more of these risk factors or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation to update these forward-looking statements.
The Toronto Stock Exchange has not reviewed the contents of this release and does not accept responsibility for the accuracy of the contents of this release.
Copyright � 2009 GENCO RESOURCES LTD. (GGC) All rights reserved. For more information visit our website at
http://www.gencoresources.com/
or send email to
info@gencoresources.com
..
Message sent on Mon Oct 5, 2009 at 1:13:10 PM Pacific Time
<
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Genco Resources Ltd.
CODE : GGC.TO
ISIN : CA3689111035
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In the News and Medias of Genco Resources Ltd.
5/20/2008
Follow up N° 5
Annual reports of Genco Resources Ltd.
2007 Annual Report
Financings of Genco Resources Ltd.
7/17/2007
Completes C$25 Million Private Placement
6/26/2007
's Private Placement Commitments Total CDN $25,001,250
6/13/2007
Announces Private Placement for up to CDN $25,000,000.pdf
2/23/2005
Private placement
Nominations of Genco Resources Ltd.
6/25/2010
Appoints Anderson Acting CEO
6/5/2006
appoints Greg Liller president
Financials of Genco Resources Ltd.
8/17/2010
Reports Financial Results for Second Quarter
5/20/2008
Reports Results for First Quarter Ended March 31, 2008
Project news of Genco Resources Ltd.
7/28/2010
(La Guitarra & San Rafael)
Provides Further Positive Developments in Production
2/1/2010
(La Guitarra & San Rafael)
Increases Mining Reserves 415% To 47 Million Silver Equivale...
12/17/2009
Announces Completion Of Feasibility Study
7/7/2008
(La Guitarra & San Rafael)
La Guitarra Feasibility Study on Schedule
3/12/2008
(La Guitarra & San Rafael)
Creston Drill Results
2/4/2008
(La Guitarra & San Rafael)
Purchases Mexican Mining Concessions and Royalty at La Guita...
6/13/2007
(La Guitarra & San Rafael)
La Guitarra - Drills 3.3 Meters Grading 1,478 g/t Silver and...
Corporate news of Genco Resources Ltd.
7/21/2010
Receives $1.3 Million Payment towards Sale of Chief
4/28/2010
Recommences Operations at La Guitarra
3/8/2010
Third Tranche Of $4.5 Million Placement Oversubscribed
2/11/2010
Announces Management Changes
12/1/2009
Reports Removal Of Roadblock
10/5/2009
Completes $2.5 Million Placement
9/30/2009
Plans $2.5 Million Placement
9/24/2008
GRANTS PAYMENT EXTENSION TO ANDOVER
6/18/2008
GGC NR 6-18-08
6/18/2008
6-17-08 GGC NR- Reserves Update
6/17/2008
INCUMBENT GENCO BOARD RECEIVES INSTITUTIONAL SUPPORT
6/17/2008
GGC News Release- GENCO RESPONDS TO DISSIDENT CIRCULAR
6/16/2008
Management Responds to Dissident Proxy Circular
4/9/2008
Reports Results for 2007
3/26/2008
Discovers Significant Mineralization through Reconnaissance ...
3/25/2008
Announces Drill Results from the San Rafael Underground Mine
3/14/2008
MAKES STRATEGIC INVESTMENT IN TWO SILVER-GOLD MINES
2/12/2008
Purchases 3,000 Tonne Per Day Ball Mill
2/7/2008
Purchases Surface Rights in the Temascaltepec Mining Distric...
1/21/2008
to Commence Trading on Toronto Stock Exchang
9/6/2007
Four Additional Mining Concessions
8/20/2007
Announces Santa Ana Drill Results
7/18/2007
Announces Results of Continued Drilling on the Creston Targe...
6/7/2006
contracts Watts, Griffis and McQuat for Mineral Reserve and ...
5/31/2006
continues to profit from silver
5/2/2006
profits and production reach new highs
3/30/2006
(Transvaal Property)
Phase 1 drill program commences
3/15/2006
(Transvaal Property)
will restate certain financial statements
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TORONTO (GGC.TO)
FRANKFURT (GSB.F)
0.690
-1.43%
0.500
-2.91%
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