Business
Latin American Minerals Inc. to raise $10 million through bought deal
Latin American Minerals Inc. to raise $10 million through bought deal.
About this update from Sterling Metals Corp.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n\n\nTHE UNITED STATES/\n\n\nTORONTO, May 8 /CNW/ - Latin American Minerals Inc. (LAT: TSX-V) today\nannounced that it has entered into an agreement for a $10 million bought deal\nfinancing with a syndicate of underwriters co-led by Maison Placements Canada\nInc. and Canaccord Capital Corporation. The proceeds from the offering will be\nused for general corporate purposes including potential future acquisitions.\n\n\nA total of 10,000,000 units will be issued at a price of $1.00 per unit\n(the "Offering"). Each unit will consist of one common share in the capital of\nthe Company and one half of one common share purchase warrant. Each whole\nwarrant will entitle the holder thereof to purchase one common share of the\nCompany until the date that is 12 months after the closing date at a price of\n$1.25 per common share.\n\n\nThe Offering is subject to customary conditions, including due diligence\nand regulatory approvals. Closing of the offering is anticipated to take place\non or about May 31,2007.\n\n\nLatin American Minerals Inc. is a mineral exploration company focused on\nthe acquisition and development of exploration opportunities in South America.\n\n\nThe TSX-V has not reviewed and does not accept responsibility for the\n\n\nadequacy or the accuracy of this release.\n\n\nThe statements made in this press release that are not historical facts\ncontain forward-looking information that involves risk and uncertainties. All\nstatements, other than statements of historical facts, which address LAT's\nexpectations, should be considered forward-looking statements. Such statements\nare based on management's exercise of business judgment as well as assumptions\nmade by and information currently available to management. When used in this\ndocument, the words "may", "will", "anticipate", "believe", "estimate",\n"expect", "intend" and words of similar import, are intended to identify any\nforward-looking statements. You should not place undue reliance on these\nforward-looking statements. These statements reflect our current view of\nfuture events and are subject to certain risks and uncertainties as contained\nin the Company's filings with Canadian securities regulatory author...