Toronto,ON,Canada,November 21,2006 --Latin American Minerals Inc.(the "Company ")
(LAT:TSXV)is pleased to announce the closing of a private placement for gross proceeds of
$3,350,500 consisting of 13,402,000 common shares of the Company at $0.25 per common share
and 6,701,000 warrants.Each warrant is exercisable at $0.35 per common share of the Company
within one year following the closing.A second tranche closing for gross proceeds of $444,500
is expected in the upcoming 10 days.Maison Placements Canada Inc.(the "Agent ")acted as the
agent on the private placement.The Agent has received 1,340,200 compensation options and will
receive 177,800 compensation options on closing of the second tranche,plus a commission
representing 8%of the gross proceeds of the offering.
David Wahl,the Company 's president and Chief Executive Officer stated that "the private
placement was fully subscribed and we would like to thank investors for their overwhelming
support and confidence in management to create shareholder value."
Latin American Minerals Inc.is a mineral exploration company focused on the acquisition and
development of exploration opportunities in Central and South America.For more information
please contact David Wahl,P.Eng.,P.Geo,President and CEO at (416-843-7851). |
