By Devika Patel
Knoxville, Tenn., Aug. 14 - Latin American Minerals Inc. said it will conduct a C$1.5 million private placement of units.
The company will sell 10 million units at C$0.15 each. The units consist of one share and one half-share warrant, with each whole warrant exercisable at C$0.30 for two years. The warrants may expire within 30 days if the company's shares close higher than C$0.60 for 20 consecutive trading days.
Dundee Securities Corp. and PowerOne Capital Markets Ltd., the underwriters, will sell the units on a best-efforts basis.
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$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$0.30
|
| Underwriters: | Dundee Securities Corp. and PowerOne Capital Markets Ltd.
|
| Pricing date: | Aug. 14
|
| Stock symbol: | TSX Venture: LAT
|
| Stock price: | C$0.15 at close Aug. 14
|
| Market capitalization: | C$9.36 million
|
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