By Sheri Kasprzak
New York, July 3 - Mexican Silver Mines Ltd. concluded a C$12,841,500 private placement.
The company sold 12,841,500 units in the non-brokered offering.
Each unit includes one share and one half-share warrant. The whole warrants are exercisable at C$1.30 each through June 29, 2009.
Proceeds will be used for exploration on the company's silver properties and for the evaluation of producing or near-producing silver mines. The rest will be used for working capital.
Based in Calgary, Alta., Mexican Silver Mines is a silver exploration company.
| Issuer: | Mexican Silver Mines Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$12,841,500
|
| Units: | 12,841,500
|
| Price: | C$1.00
|
| Warrants: | For one half-share warrant per unit
|
| Warrant expiration: | June 29, 2009
|
| Warrant strike price: | C$1.30
|
| Placement agent: | Non-brokered
|
| Settlement date: | July 3
|
| Stock symbol: | TSX Venture: MSM
|
| Stock price: | C$1.25 at close July 3
|
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