Latin Metals (LMS-V) Upsizes PP for Gross Proceeds Up To $1.3 Million
Sept 28, '21 - NR
Latin Metals announces that due to investor interest in its non-brokered private placement (the “Financing”) announced on September 10, 2021, it is upsizing the Financing to raise total gross proceeds of up to $1.3 million. The Financing will consist of up to 8,666,667 units in the capital of the Company (each, a “Unit”) at a subscription price of $0.15 per Unit. Each Unit will consist of one common share in the capital of Latin Metals (each, a “Share”) and one-half of one common share purchase warrant, with each whole warrant entitling the holder thereof to purchase one Share at a price of $0.25 per Share for a period of 24 months from the closing of the Financing.
The proceeds of the Financing are intended to fund ongoing exploration at the Company’s mineral projects in Argentina and Peru and for general working capital.
The Company may pay finder’s fees on all or a portion of the Financing, consisting of a cash commission equal to 7% of the total gross proceeds raised and finder’s warrants equal to 7% of the total number of Units issued, where each finder’s warrant will entitle the holder thereof to purchase one Share at a price of $0.15 per Share for a period of 12 months from the closing of the Financing.
All securities issued in connection with the Financing will be subject to a hold period of four-months and one day in Canada. The Financing is subject to the receipt of all necessary approvals including the final acceptance for filing of the Financing with the TSX Venture Exchange and any applicable securities regulatory authorities. There is no material fact or material change regarding Latin Metals that has not been generally disclosed.
This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Latin Metals
Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration.
On Behalf of the Board of Directors of
LATIN METALS INC.
“Keith Henderson”
President & CEO
For further details on the Company readers are referred to the Company’s web site ( www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Keith Henderson
Suite 890
999 West Hastings Street
Vancouver, BC, V6C 2W2
Phone: 604-638-3456
E-mail: info@latin-metals.com |
