Business
Plata Latina announces closing of C$3,298,000 bought deal private placement
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ ...
About this update from Edge Copper Corporation
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nVANCOUVER, Feb. 12, 2013 /CNW/ - Plata Latina Minerals Corporation (\"Plata Latina\" or the \"Company\") is pleased to announce it has closed the private placement equity\n financing previously announced on January 18, 2013 (the \"Offering\")\n with Canaccord Genuity Corp. (the \"Underwriter\"). The Company has\n issued 8,245,000 Units of the Company (the \"Units\") at an issue price\n of C$0.40 per Unit for gross proceeds of C$3,298,000 (the \"Offering\").\n\n\nEach Unit will be comprised of one common share of the Company and\n one-half of one common share purchase warrant (each whole warrant, a\n \"Warrant\").  Each Warrant will entitle the holder to subscribe for one\n additional common share at an exercise price of C$0.65 (the \"Warrant\n Price\") for a period of two years from the closing date of the\n Offering.\n\n\nThe Company intends to use the net proceeds of the Offering for\n continued drilling on its Naranjillo property where exploration will be\n focused on establishing continuity along strike of the initial\n high-grade discovery. Net proceeds will also be used to commence a\n first phase drill program at the Company's Vaquerias and Palo Alto\n properties. Vaquerias contains a historical shallow silver mine, on a\n major structural target, that was abandoned during the Mexican\n revolution with old workings exhibiting samples of up to 1,340 g/t\n silver*.  Plata Latina has mobilized a drill on site and initial\n drilling has started focusing on establishing continuity below these\n old workings and ultimately along the expected structure. Initial\n drilling at Palo Alto will be focused on exploring potential structures\n that have been identified through mapping and surface sampling.\n\n\nIn connection with the Offering, the Underwriter received a 5.5% cash\n commission and broker warrants (\"Broker Warrants\") equal to 3.0% of the\n Units issued pursuant to the Offering. Each Broker Warrant shall be\n exercisable for one common share of the Company at a price of C$0.65\n for a period of two years from the closing date of the Offering.\n\n\nAll shares issued pursuant to the Offering are subject to a statutory\n four-month and one day hold period expiring on June 13, 2013 as\n prescribed by the TS...