Business
Latin American Minerals Announces Closing of First Tranche of Private Placement of Units
Toronto, Ontario--(Newsfile Corp. - December 1, 2017) - Latin American Minerals Inc. (TSXV: L...
About this update from Sterling Metals Corp.
[{"type":"text","content":"Latin American Minerals Announces Closing of First Tranche of Private Placement of UnitsToronto, Ontario--(Newsfile Corp. - December 1, 2017) - Latin American Minerals Inc. (TSXV: LAT) (the \"Company\") announces that it has closed the first tranche of its previously announced non-brokered private placement through the issuance 14,046,667 units (\"Units\") at a price of $0.075 per Unit for gross proceeds of $1,053,500.03 (the \"Offering\"). Each Unit is comprised of one common share (\"Common Share\") of the Company and one Common Share purchase warrant (\"Warrant\"). Each Warrant entitles the holder thereof to purchase one Common Share for a period of five (5) years from the closing of the Offering at a price of $0.10 per Common Share. The proceeds of the Offering will be used for general working capital purposes. In connection with the completion of the first tranche of the Offering, certain eligible persons (the \"Finders\") were paid a cash commission equal to 8% of the gross proceeds raised from subscribers introduced to the Company by such Finders and issued 777,600 non-transferable broker warrants (\"Broker Warrants\"). Each Broker Warrant entitles the holder to purchase one Unit for a period of five (5) years from the closing of the Offering at a price of $0.075 per Unit.Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The Company will be closing additional tranches of the Offering until December 29, 2017.This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or purs...