Business
Latin American Minerals Announces Increase in Size of Private Placement
Toronto, Ontario--(Newsfile Corp. - December 11, 2017) - Latin American Minerals Inc. (TSXV: ...
About this update from Sterling Metals Corp.
[{"type":"text","content":"Latin American Minerals Announces Increase in Size of Private PlacementToronto, Ontario--(Newsfile Corp. - December 11, 2017) - Latin American Minerals Inc. (TSXV: LAT) (the \"Company\") announces, further to its November 13, 2017 press release, an increase to the size of its non-brokered private placement by $500,000 for aggregate gross proceeds of up to $2,000,000 (the \"Offering\"). The Offering will now be up to 26,666,666 units (\"Units\") at a price of $0.075 per Unit. 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. 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 closed the first tranche of the Offering on December 1, 2017 and 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 pursuant to an exemption from such registration requirements.About the CompanyLatin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold 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 ac...