Business
Plata Latina closes 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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, Aug. 28, 2014 /CNW/ - Plata Latina Minerals Corporation (\"Plata Latina\" or the \"Company\") has closed the non-brokered private placement of 11,230,000 units (\"Units\") at a price of C$0.10 per Unit for gross proceeds of C$1,123,000.  Each Unit comprises of one Plata Latina Common Share (\"Share\") and one half of one common share purchase warrant (\"Warrant\"). Each whole Warrant entitles the holder to purchase one additional Share at a price of C$0.25 per Share until August 27, 2016.  \n\nThe net proceeds from the financing will be used for the next drill program at Naranjillo, where a discovery is already in progress.  The drill program has commenced and contemplates six holes (4,750 metres) to optimize orientation of subsequent drilling for resource definition (See Appendix A for plan view). Drilling at Naranjillo, which is located approximately 35 kilometres from Guanajuato and on the same structural trend that hosts Guanajuato's veins, has identified a target having geology identical to that hosting Guanajuato's Veta Madre ore bodies. Planned drilling is therefore set to explore both the Guanajuato Veta Madre-style setting as well as neighbouring veins. Proceeds will also be used for general corporate purposes.\n\nAs prescribed by the TSX Venture Exchange and applicable securities laws, the securities (and all underlying securities) issued in the private placement are subject to a four-month hold period expiring December 28, 2014.\n\nAbout Plata Latina Minerals Plata Latina Minerals is a Canadian exploration company with a portfolio of five silver-gold properties situated in the prolific Mexican Silver Belt focused on discovering new silver-gold vein districts.  The Company is currently concentrating its efforts on its Naranjillo property, located approximately 35 kilometres southeast of the world-class Guanajuato district in Mexico, where Plata Latina's first discovery hole was drilled returning 3,181 g/t silver and 13.28 g/t gold over 10.95 metres. Plata Latina's expertise in the ore horizon concept and extensive experience in Mexico provides a competitive edge for discovery of new districts between old historic deposits. Its highly experienced management team and board are focused ...