By Devika Patel
Knoxville, Tenn., May 1 - Maya Gold & Silver Inc. said it has arranged a C$2.5 million non-brokered private placement of units.
The company plans to sell units of one common share and one half-share warrant at C$0.35 apiece. The whole warrants will be exercisable at C$0.50 until April 30, 2012.
Proceeds will be used to continue development of the Ait Bou-Haddou property in Morocco, to make the payments under certain agreements and for general working capital.
Based in Montreal, Maya Gold & Silver mines for base and precious metals.
| Issuer: | Maya Gold & Silver Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | April 30, 2012
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | May 1
|
| Stock symbol: | TSX Venture: MYA
|
| Stock price: | C$0.41 at close April 30
|
| Market capitalization: | C$6.78 million
|
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