By Laura Lutz
Des Moines, May 31 - Latin American Minerals Inc. closed its previously announced private placement of units for C$12 million.
The company sold 12 million units of one share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.25 for one year.
Maison Placements Canada Inc. and Canaccord Capital Corp. will co-lead a syndicate of underwriters that will also include Pacific International Securities Inc.
Proceeds will be used for general corporate purposes including potential future acquisitions.
Latin American Mineral is a Toronto-based mineral exploration company.
| Issuer: | Latin American Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$12 million
|
| Units: | 12 million
|
| Price: | C$1.00
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.25
|
| Agents: | Maison Placements Canada Inc. (lead), Canaccord Capital Corp. (lead), Pacific International Securities Inc.
|
| Settlement date: | May 31
|
| Stock symbol: | TSX Venture: LAT
|
| Stock price: | C$1.20 at close May 31
|
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