| Latin American Minerals Closes Private Placement Financing | |
| | |
|
June 24, 2015 - Toronto, Ontario - Latin American Minerals Inc. (TSXV: LAT) (the "Company") announces that it has completed a non-brokered private placement financing for gross proceeds of $332,900 and issued a total of 6,658,000 units at a price of $0.05 per unit.
Each unit consists of one common share and one common share purchase warrant exercisable at a price of $0.07 for thirty six months following closing. Securities issued pursuant to this private placement are subject to standard regulatory four month hold period. No commissions or finders' fees were paid in connection with this private placement. The proceeds of the financing will be used for general working capital purposes.
Certain insiders of the Company participated in the private placement as outlined in the table below. Subscriptions from such insiders are considered related-party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101.
|
|
|
Ownership interest
|
|
Name
|
Title
|
Units
|
Before
|
After
|
%
|
Richard Boulay
|
Director
|
1,076,000
|
6,765,682
|
7,841,682
|
7%
|
Patricia Sheahan
|
Director
|
876,000
|
461,667
|
1,337,667
|
1%
|
About the Company
Latin American Minerals Inc. is a mineral exploration company which holds its gold and Diamond projects in Paraguay. The Company is expanding its fully permitted Independencia Mine pilot plant operation with heap-leach gold recovery from mineralization extracted in open pit bulk sampling activities.
Six large gold zones are now ready for drill testing on the exploration claims adjacent to the Independencia Mine, also part of the Company's large 15,020 hectare Paso Yobai gold project.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
|
|
|
Latin American Minerals Inc.
|
|
EXPLORATION STAGE |
CODE : LAT.V |
ISIN : CA51827X1015 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
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. |