Latin American Minerals Inc.

Published : April 12th, 2016

Latin American Announces Closing of First Tranche of Private Placement of Units

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Keywords :   Diamond | Paraguay | Recovery |

Latin American Announces Closing of First Tranche of Private Placement of Units

April 8, 2016 - Toronto, Ontario - Latin American Minerals Inc. (TSXV: LAT) (the 'Company' or 'LAT') today announced that it has closed the first tranche of its previously announced private placement issuing 1,915,000 units ('Units') at a price of $0.12 per Unit for gross proceeds of $229,800 (the 'Offering').

Each Unit is comprised of one common share (a 'Common Share') in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a 'Warrant'). Each whole Warrant entitles the holder thereof to purchase one Common Share for a period of two (2) years from the closing of the Offering (the 'Warrant Term') at a price of $0.18 per Common Share, provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.30 for 20 consecutive trading days at any time following the date that is four months and one day after the date of issuance of the Warrants, the Company may accelerate the Warrant Term (the 'Reduced Warrant Term') such that the Warrants shall expire on the date which is 30 calendar days following the date a press release is issued by the Company announcing the Reduced Warrant Term.

Certain eligible persons (the 'Finders') were paid a cash commission equal to 8% of the proceeds raised from subscribers introduced to the Company by such Finder, and also issued an aggregate of 53,200 broker warrants (the 'Broker Warrants'), each Broker Warrant entitling the holder to acquire one Common Share at a price of $0.12 for a period of two (2) years from the closing of the Offering, subject to the Reduced Warrant Term.

The Common Shares, Warrants and Broker Warrants issued pursuant to the Offering are subject to a hold period expiring on August 9, 216. The proceeds of the Offering will be used for general working capital purposes. The Company may complete one or more additional tranches of the Offering in the upcoming weeks.

The first tranche of the Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ('MI 61-101') as certain insiders of the Company subscribed for an aggregate of 1,335,000 Units. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the first tranche of the private placement, which the Company deems reasonable in the circumstances in order to avail itself of the proceeds of the private placement and complete the Offering in an expeditious manner.

About the Company

Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold and Diamond 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 six gold zones for drill testing on the Company's adjacent exploration claims, which is part of the Company's 15,020 hectare Paso Yobai gold project.

For more information, please contact:

Basil Botha, Chief Executive Officer and Chairman

Tel: Toronto: (1-416) 363-0841 or Vancouver: (1-604) 418-3856

E-mail: [email protected]


Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'may', 'will', 'would', 'potential', 'proposed' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

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Data and Statistics for these countries : Paraguay | All
Gold and Silver Prices for these countries : Paraguay | All

Latin American Minerals Inc.

ISIN : CA51827X1015
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Latin American Min. is a gold exploration company based in Canada.

Latin American Min. holds various exploration projects in Argentina, in Colombia and in Paraguay.

Its main exploration properties are LA CAROLINA, RIO TENDAL and USPALLATA GRABEN in Argentina, PASO YOBAI in Paraguay and ESMERALDA (LATIN AMERICAN) in Colombia.

Latin American Min. is listed in Canada. Its market capitalisation is CA$ 2.5 millions as of today (US$ 1.9 millions, € 1.6 millions).

Its stock quote reached its highest recent level on June 20, 2014 at CA$ 2.50, and its lowest recent point on June 19, 2020 at CA$ 0.01.

Latin American Min. has 70 440 000 shares outstanding.

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Financings of Latin American Minerals Inc.
9/6/2013Announces Financing and Extends Warrant Expiry
3/11/2013Extends the Exercise Period for Warrants for A Second Six-Mo...
8/26/2009Lithium Americas Announces Private Placement
8/17/2009Raise Up to $1.5 Million in Private Placement Financing
8/20/2008Announces closing to its previously announced bought deal pr...
Option Grants of Latin American Minerals Inc.
10/14/2009Grants Incentive Stock Options
Project news of Latin American Minerals Inc.
5/30/2013(Paso Yobai)Reports Positive Exploration Achievements at Paso Yobai Gold...
7/6/2011(Itapoty)Signs Option Agreement With Olivut Resources for Development...
2/16/2011(Itapoty)Signs Letter of Intent With Olivut Resources for Development...
2/1/2011(Paso Yobai)2011 Paso Yobai Gold Exploration Underway in Paraguay
11/5/2009(Paso Yobai)Discovers Important New Gold Zone at Its Paso Yobai
6/17/2009(Rio Tendal)Latin Amerincan Minerals Press Release
1/9/2009(Paso Yobai)Reports 7 gpt Gold over 8.5 Metres at Paso Yobai, Paraguay
9/4/2008(Paso Yobai)Retains Consultants and Expands Exploration Program to Inclu...
7/18/2008(Paso Yobai)Samples of Artisan Tailings Indicate Continuity at Paraguay ...
7/17/2008(Paso Yobai)Encouraging Mineralization Observed
7/16/2008Discovers Diamonds in Paraguay and Secures 1,650 Square Kilo...
6/26/2008(Rio Tendal)identifies high grade zinc massive sulfides in the drilling ...
6/4/2008(Esmeralda (latin American))Reports Three Gold Discoveries
6/2/2008(Paso Yobai)Triples Length of Discovery Zone to 2,000m
4/23/2008(Rio Tendal)adds a Second Drill on its Tendal VMS Project La Rioja, Arge...
4/16/2008(La Carolina)Options Its La Carolina Gold Property to Argentinean Venture...
1/18/2008(Paso Yobai)Intersects 6.5m with 26.64gpt gold including 4m with 43.08gp...
Corporate news of Latin American Minerals Inc.
8/2/2016Reconfiguration Of The Gold Processing Plant At The Independ...
7/27/2016Latin American Minerals Announces Changes to Board and Grant...
7/15/2016Protected: Shareholder Update – July 2016
7/13/2016Latin American Minerals Strengthens Board With New Directors
7/11/2016Latin American Appoints Chief Operating Officer To Manage Mi...
7/7/2016Latin American Minerals Initiates New Investor Relations Pro...
7/6/2016Latin American Minerals Strengthens Management Team
6/28/2016Latin American Minerals Announces Closing of Second Tranche ...
6/11/2016Latin American Minerals Increases Amount of Private Placemen...
5/31/2016Latin American Minerals Amends Terms of Private Placement an...
5/31/2016Latin American Minerals Appoints New CFO
4/12/2016Latin American Announces Closing of First Tranche of Private...
4/1/2016Latin American Minerals Announces Gold Streaming Agreement a...
1/28/2016Latin American Minerals Announces Appointment of Auditors
1/4/2016Latin American Minerals Grants Incentive Stock Options
12/30/2015Latin American Announces Effective Date of Consolidation
12/22/2015Latin American Minerals Announces Shareholder Approval Of Co...
12/22/2015Latin American Announces Shareholder Approval of Consolidati...
10/29/2015Latin American Minerals Increases Private Placement to $1,50...
10/26/2015Latin American Minerals Closes First Tranche of $1,000,000 P...
10/26/2015Latin American Minerals Closes First Tranche of $1,000,000 P...
10/6/2015Latin American Minerals Announces $1,000,000 Non-Brokered Pr...
8/25/2015Latin American Minerals Closes $200,000 Financing, Announces...
4/21/2015Latin American Minerals Announces Private Placement Financin...
1/22/2015Latin American Minerals Extends Warrant Expiry
1/9/2015Latin American Minerals Completes Construction of Three Heap...
9/29/2014Latin American Minerals Reports Milestone: Heap Leach Proces...
9/9/2014Latin American Minerals Extends Warrant Expiry
7/11/2014Latin American Minerals Announces Closing of $1,000,000 Fina...
6/27/2014Latin American Minerals Announces $1,000,000 Financing
6/19/2014Latin American Minerals Secures Bank Loan; Pilot Heap-Leach ...
4/25/2014Latin American Minerals Announces Closing of $422,000 Financ...
9/6/2013LAT News Release - Sept. 6, 2013
5/22/2013LAT News Release - May 22, 2013
5/22/2013Adopts Advance Notice By-Law
3/11/2013LAT News Release - March 11, 2013
9/10/2012LAT - News Release - September 10, 2012
8/29/2012LAT - August 29, 2012 - News Release
7/24/2012LAT News Release - July 24, 2012
5/16/2012LAT - May 16, 2012 News Release
3/6/2012LAT News Release - March 6, 2012
2/2/2012LAT - News Release - February 2, 2012
9/21/2011LAT News Release - September 21, 2011
7/6/2011LAT New Release - June 7, 2011
5/25/2011(Paso Yobai)' Paso Yobai Project Advances With Additional High Grade Gol...
2/16/2011LAT - Feb. 16, 2011 - News Release
10/6/2009Completes Previously Announced $1.5 Million Financing
9/15/2009Addition of Gary O'Connor to the Board of Directors
9/5/2009Exploration 2009: Network with the latin american mining sce...
8/31/2009Reports on Heads of Agreement
8/28/2009Updates Press Release Dated August 14, 2009 Regarding $1.5 M...
8/12/2009CEO and Executive Chairman Step Down
6/17/2009to Raise $1.575 Million for Its Lithium Properties
6/12/2009and Grupo Minero Los Boros Combine Lithium Properties Into L...
6/1/2009June 1, 2009 News Release
5/22/2009May 22, 2009 News Release
2/26/2009Closes in on the Source of 40 Macro-Diamonds Discovered at I...
1/14/2009retains TRU Group Inc. to accelerate development of Salares ...
11/13/2008Acquires Lithium Project in Argentina Following Positive Ini...
7/22/2008Stakes Potash Projects in Puna Region, Argentina
4/5/2006Announces closing of its qualifying transaction and concurre...
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