Latin American Minerals Gives Notice of Accelerated Expiry of Warrants
Toronto, Ontario / TheNewswire / September 15, 2016 - Latin American Minerals Inc. (TSXV: LAT) (the "Company") gives notice of accelerated expiry to the holders of 932,500 common share purchase warrants ("Warrants") of the Company which were issued pursuant to a private placement completed on April 8, 2016. Each Warrant is exercisable to purchase one common share of the Company at a price of $0.18 per common share until April 8, 2018, however, pursuant to the terms of the certificate evidencing the Warrants, the expiry of the Warrants may be accelerated should the closing price at which the Common Shares trade on the TSX Venture Exchange ("TSXV") 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 evidenced hereby, the Company may give notice to the holders of the Warrants 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 amended expiry day.
The Company has elected to accelerate the expiry of the Warrants to Saturday, October 15, 2016
(the "Accelerated Expiry Time"), with this press release acting as notice of acceleration. Any Warrants remaining unexercised after the Accelerated Expiry Time will be cancelled and will thereafter be of no force or effect.
Holders may exercise the Warrants before 4:30 p.m. (Toronto time) on Saturday, October 15, 2016 by surrendering to the Company c/o Irwin Lowy LLP at 365 Bay Street, Suite 400, Toronto, Ontario M5H 2V1: (i) the original Warrant certificate with a duly completed and executed exercise form in the form attached to the Warrant certificate; and (ii) a certified cheque or bank draft payable to Latin American Minerals Inc. in an amount equal to the purchase price of the number of shares subscribed for.
Assuming all of the Warrants are exercised, the Company will receive proceeds of approximately $167,850. The proceeds will be used for working capital purposes.
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, CEO & Chairman
Toronto: (1-416) 363-0841 or Vancouver: (1-604) 418-3856
E-mail: information@latinamericanminerals.com
Website: www.latinamericanminerals.com
or
Leo Karabelas, Focus Communications
Toronto: (416) 543-3120
E-mail: leo@fcir.ca
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.
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