By Devika Patel
Knoxville, Tenn., July 2 - Latin American Minerals Inc. said it has arranged a C$1.5 million non-brokered private placement of units.
The company will sell 10 million units at C$0.15 apiece. Each unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$0.20.
Proceeds will be used for mineral exploration projects and general and administrative expenses.
Latin American Minerals is a Toronto-based mineral exploration company.
| Issuer: | Latin American Minerals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | July 2
|
| Stock symbol: | TSX Venture: LAT
|
| Stock price: | C$0.18 at close July 1
|
| Market capitalization: | C$11.6 million
|
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