VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 26, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Salazar Resources Ltd. (the "Company") (TSX VENTURE:SRL)(CCG.F) announces a non-brokered private placement financing of up to 9 million units at $0.22 per unit for gross proceeds of $1,980,000. Each unit will consist of one common share of the Company and one-half of one transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of the Company at $0.35 for a period of eighteen months from the date of closing of the private placement. Insiders will be participating in the private placement and there will be finders' fees payable on a portion of the private placement. The net proceeds from the private placement will be used to fund the Company's exploration properties and for general working capital purposes.
The securities issued under the private placement will be subject to a four-month hold period from the date of closing. The closing of the private placement is subject to, among other things, acceptance from the TSX Venture Exchange.
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. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
Fredy Salazar, President & Chief Executive Officer
Salazar Resources Limited
About Salazar Resources Limited
Salazar Resources Ltd. is a publicly-listed (TSX VENTURE:SRL)(CCG.F) mineral resource company engaged in the exploration and development of new highly prospective areas in Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador. Being based in Ecuador, thus having thorough knowledge of local human and environmental issues, gives the Company a strategic advantage, enabling it to complete exploration at a rapid pace. With an excellent property portfolio (3 projects- 42,900 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador and throughout South America.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.