Latin American Minerals Announces Private Placement of Units
LATIN AMERICAN MINERALS ANNOUNCES PRIVATE PLACEMENT OF UNITS
May 31, 2018 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “Company”)
announces a non-brokered private placement of up to 12,000,000 units (“Units”) at a price of $0. 05 per
Unit for gross proceeds of up to $600,000 (the “Offering”). Each Unit will be comprised of one common
share (“Common Share”) of the Company and one Common Share purchase warrant (“Warrant”). Each
Warrant will entitle the holder thereof to purchase one Common Share for a period of 24 months from the
closing of the Offering at a price of $0.1 0 per Common Share. The proceeds of the Offering will be used
for general working capital purposes.
Mathew Wilson, President and CEO states: “Led by Jeremy Niemi, our exploration program has led us to
a point where we are visually beginning to see what we believe to be a continuous formation of silicified
rocks. These rocks are similar to those that have resulted in gold mineralized assays in previous drill
campaigns. While we realize that this extra dilution is not ideal, we believe it is necessary to drill additional
holes in an effort to properly define what we believe could be the start of a significant structure.”
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.
Certain insiders of the Company will participate in the Offering. The issuance of the Units to such insiders
pursuant to the Offering will be considered a related party transaction within the meaning of Multilateral
Instrument 61-101 (“MI 61-101”). The Company intends to rely on the exemptions from valuation and
minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(b) of MI
61-101 in respect of any insider participation.
The Company also wishes to announce the TSX Venture Exchange has approved its amended stock option
incentive plan (the “Plan”). The principal amendments to the Plan include the conversion to a fixed-number
Plan reserving for issuance up to a maximum of 10% of the Company's issued shares as at the date of
implementation. The changes also include certain other consequential amendments.
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 Company
Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold
project in Paraguay. The Company is currently expanding its Independencia Mine gold processing plant to
encompass vat-leach gold recovery from mineraliz ation extracted in open pit bulk mining activities at its
fully permitted mining concession.
Management has identified exploration targets at Independencia Mine, and six new gold zones on the
Company’s adjacent exploration claims, for drill testing. This property package comprises the Company’s
15,020 hectare Paso Yobai gold project.
For more information, please contact:
Mathew Wilson, President & CEO
Toronto: (1-416) 643-7630
E-mail: [email protected]
Website: www.latinamericanminerals.com
The Company’s public documents may be accessed at www.sedar.com.
For further information, please visit our website at www.latinamericanminerals.com or email us at
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this
release.
This news release contains certain “forward-looking information ” within the meaning of applicable securities law. For ward
looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or
conditions “may” or “will” occur. These statements are only predictions. Forward -looking information is based on the opinions
and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from those projected in the forward -looking information. For
a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s
Management’s Discussion and Analysis. The Company undertakes no obligation to update forward -looking information if
circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place
undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction
may constitute a violation of U.S. Securities laws.