San Marco Resources Inc. to Raise $400,000 in Private Placement
30.03.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - March 30, 2012) - San Marco Resources Inc. (TSX VENTURE: SMN) announced that it has arranged a non-brokered private placement of 2,666,666 units at $0.15 per unit for gross proceeds of $400,000.Skanderbeg Capital Partners Inc., of Vancouver, British Columbia has arranged the financing pursuant to its agreement with San Marco granting Skanderbeg an option to acquire a 50% interest in San Marco's La Buena property in Zacatecas, Mexico. La Buena property hosts a similar geological environment to Goldcorp's Penasquito mine, located approximately eight kilometres to the south. San Marco acquired the property in 2010 and subsequently completed detailed geological mapping, ground magnetometer surveys, induced polarization surveys, surface geochemistry, resulting in multiple drill targets being identified. Permitting for drilling as well as surface rights contracts are in place.
Each unit will consist of one common share and one-half of a non-transferable warrant, each whole warrant exercisable to purchase a further share for 18 months at $0.30. After the four month restricted resale period expires, the expiry of the warrants may be accelerated if the closing price of the Company's shares exceeds $0.50 per share for 20 consecutive trading days and the Company gives notice to the warrant holders that the warrants must be exercised or the warrants will expire in 30 days.
The proceeds of the placement will be used for continued exploration on its Mexican gold/silver properties and for general working capital. The placement is subject to regulatory approval.
About Skanderbeg Capital Partners Inc.
Skanderbeg Capital Partners is a merchant banking group, focused on identifying, structuring and operating companies with highly prospective business opportunities around the world. Skanderbeg is primarily focused on the natural resource industry while also acting opportunistically outside of that sector in compelling situations. A core competency of the Skanderbeg Capital Partners is identifying countries and sectors that are rapidly emerging but have not yet been fully recognized by the mainstream investment community.
About San Marco Resources Inc.
San Marco Resources Inc. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of precious metal properties in Mexico. San Marco is currently focused on two gold/silver projects, Los Carlos and La Buena. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contact Information
San Marco Resources Inc.
Robert D. Willis
Chairman & CEO
604-813-2606
rwillis@sanmarcocorp.com
San Marco Resources Inc.
Michael Mallard
V.P. Corporate Communications
604-506-3776
mmallard@sanmarcocorp.com
www.sanmarcocorp.com