Latin American Minerals Increases Private Placement to $1,500,000
October 29, 2015 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “Company” or “LAT”) reports that due to the over-subscription of its previously announced $1,000,000 (October 6th 2015) non-brokered private placement of special warrants (the “Special Warrants”), the Company is increasing the size of the private placement. The Company will now increase the issue by 50% to $1,500,000. Details of the Special Warrants can be found on the press release issued by Latin American Minerals on October 6th 2015.
Completion of the private placement is subject to certain conditions including, but not limited to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Special Warrants issued under this private placement will be subject to a four month and one day hold period from the date of closing.
The Company intends to use the proceeds from the private placement for general working capital purposes and upgrades to facilities and equipment at its Paso Yobai gold project and pilot plant in Paraguay.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About the Company
Latin American Minerals Inc. is a mineral exploration company which holds its core gold and diamond projects in Paraguay. The Company is currently expanding its Independencia Mine processing plant to encompass heap-leach gold recovery from mineralization extracted in open pit bulk sampling activities at its fully permitted mining concession.
Six large gold zones are ready for drill testing on the Company’s adjacent exploration claims, which is part of the Company’s large 15,020 hectare Paso Yobai gold project.
For more information, please contact:
Toronto: (1-416) 363-0841 or Vancouver: (1-604) 418-3856
FOSTER & ASSOCIATES
Toronto: 416-369-3199 office 1-800-559-8853
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.