Latin American Minerals Announces Gold Streaming Agreement and Concurrent Financing
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/01/16 -- Latin American Minerals (TSX VENTURE: LAT) ("LAT" or the "Company") today announced the signing of a non-binding Term Sheet ("Term Sheet") for a gold streaming metal purchase agreement ("Metal Purchase Agreement") for its Paso Yobai gold project with SilverStream SEZC (SilverStream) and a concurrent private placement financing for CAD$500k. The Metal Purchase Agreement is subject to satisfactory due diligence by SilverStream.
Highlights
Basil Botha, CEO & Chairman of the company said; "This gold stream is an important milestone for LAT. It validates the extensive work already done and the viability of the project. It also enables us to implement the recommendations from the J.T. Boyd report (see shareholder update February 22nd, 2016) to improve production at the Independencia mine. The concurrent financing will be used for G&A and production based initiatives."
The Concurrent Financing
The Company also announced that it intends to complete a private placement at a share price of $0.12 per unit (the "Purchase Price") for gross proceeds of up to $500,000 (the "Offering"). Each Unit is comprised of one common share of the Company (each "Common Share") and one half of one common share purchase warrant of the Company (each whole warrant "Warrant"). Each whole Warrant entitles the holder thereof to purchase one Common Share for a period of two (2) years after the closing date of the Offering at a price of $0.18 per share.
The warrants are callable once the shares have traded at $0.30 for more than 20 consecutive days.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Latin American Minerals Inc.
Basil Botha, CEO & Chairman
Toronto: (1-416) 363-0841
Vancouver: (1-604) 418-3856
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Datum: 01.04.2016 - 06:50 Uhr
Sprache: Deutsch
News-ID 1425415
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Mining & Metals
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