La Quinta increases and ammends proposed financing

About this update from Black Mammoth Metals Corporation

[{"type":"text","content":"\n\n\n\nLAQ: TSX-V\n\n\nVANCOUVER, July 28 /CNW Telbec/ - La Quinta Resources Corporation (TSXV:\nLAQ) is pleased to announce that it has increased a non-brokered private\nplacement from $900,000 to $1,200,000 for sale to qualified investors. The\nunit price has been decreased to 0.25 per unit from 0.30 per unit.\n\n\nEach unit will consist of one share and warrant. Each full warrant will,\nin turn entitle the holder to purchase an additional share common share in the\nCompany at a price of 0.40 and 0.60 per share for a period of 12 or 24 months\nfrom the enclosing of the offering. Subject to certain acceleration clause.\n\n\nA finder's fee of up to 8% of the proceeds may be paid to qualified\nfinders upon issuance. Eight percent finder's warrants will also be granted to\naccredited brokers or financial institutions at an exercise price of 0.45 per\nshare; exercisable up to 12 months from the date of closure of the placement..\n\n\nThe Company will use the funds for exploration expenditures in the\nDemocratic Republic of Congo plus General Working Capital.\n\n\nLa Quinta Resources is a junior exploration listed on the TSXV under the\nsymbol LAQ. The company's aim is to add shareholder value by growing its\nresources base through both explorations of its two high quality DRC projects.\nThe Company is led by a highly skilled, experienced Board and management team\nwith significant successes in finding and developing early stage gold and base\nmetals.\n\n\nON BEHALF OF THE BOARD\n\n\nMalcolm JA Swallow\n\n\nChairman and CEO\n\n\nThe TSX Venture Exchange has not reviewed and does not except any\n\n\nresponsibility for the accuracy or adequacy of this news release, which\n\n\nhas been prepared by management.\n\n\n","length":1810,"tagName":"div"}]

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