Latin American Minerals Announces Private Placement Financing
TORONTO, ONTARIO--(Marketwired - Jun 11, 2015) - Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Corporation") announces that it intends to raise up to $350,000 by way of a non-brokered private placement financing, by issuing up to 7,000,000 units of the Corporation (the "Units") at a price of $0.05. Each Unit is comprised of one common share of the Corporation (a "Common Share") and one purchase warrant exercisable at $0.07 for a period of 36 months from the Closing Date (the "Offering"). The proceeds of the financing will be used for general working capital purposes.
The closing of the Offering is subject to the approval of the TSX Venture Exchange. Finder's fees may be paid on the Offering.
Certain insiders of the Company will participate 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 | 976,000 | 6,765,682 | 7,741,682 | 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 core gold and diamond projects in Paraguay. The Company is currently expanding its Independencia Mine pilot plant operation to encompass heap-leach gold recovery from mineralization extracted in open pit bulk sampling activities at its fully permitted mining concession.
Six large gold zones are ready for drill testing on the Company's adjacent exploration claims, 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.
Contact
Latin American Minerals Inc.
Miles Rideout
President and CEO
Toronto: (1-416) 363-0841 or (1-416) 902-8558
information@latinamericanminerals.com
www.latinamericanminerals.com