Latin American Minerals Announces Private Placement Financing
June 11, 2015 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “Corporation”) announces that it intends to raise up to $350,000 by way of a non-brokered private placement financing, by issuing up to 7,000,000 units of the Corporation (the “Units”) at a price of $0.05. Each Unit is comprised of one common share of the Corporation (a “Common Share”) and one purchase warrant exercisable at $0.07 for a period of 36 months from the Closing Date (the “Offering”). The proceeds of the financing will be used for general working capital purposes.
The closing of the Offering is subject to the approval of the TSX Venture Exchange. Finder’s fees may be paid on the Offering.
Certain insiders of the Company will participate in the private placement as outlined in the table below. Subscriptions from such insiders are considered related-party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101.
| Ownership interest | |||||||
|---|---|---|---|---|---|---|---|
| Name | Title | Units | Before | After | % | ||
| Richard Boulay | Director | 976,000 | 6,765,682 | 7,741,682 | 7% | ||
| Patricia Sheahan | Director | 876,000 | 461,667 | 1,337,667 | 1% | ||
| About the Company | |||||||
| Latin American Minerals Inc. is a mineral exploration company which holds its core gold and diamond | |||||||
| projects in Paraguay. The Company is currently expanding its Independencia Mine pilot plant operation | |||||||
| to encompass heap-leach gold recovery from mineralization extracted in open pit bulk sampling activities | |||||||
| at its fully permitted mining concession. | |||||||
| Six large gold zones are ready for drill testing on the Company’s adjacent exploration claims, also part of | |||||||
| the Company’s large 15,020 hectare Paso Yobai gold project. | |||||||
| For more information, please contact: | |||||||
| Miles Rideout | |||||||
| President and CEO | |||||||
| Toronto: (1-416) 363-0841 or (1-416) 902-8558 | |||||||
| e-mail: [email protected] | |||||||
| Website: www.latinamericanminerals.com | |||||||
| Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the | |||||||
| adequacy or accuracy of this release. |
LATIN AMERICAN MINERALS INC.
TOR_LAW\ 8239156\1 Suite 1000 – 36 Toronto St., Toronto, ON, Canada, M5C 2C5 Tel: 1.416.363.0841