ENP Newswire -
Release date- 11022014 -
The Shares are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.
As part of the settlement, one director of Maya, received 80,000 Shares for the reimbursement of Debentures in principal amount of
Further to its news release dated
Maya further announces the closing of a second tranche of Debentures for a capital amount of
Under the second tranche closing,
The Insider Participation is exempt from the valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on the fact that neither the fair market value of such Insider Participation nor the consideration paid by such insider exceeds 25% of Maya's market capitalization. Maya has not filed a material change report 21 days prior to the closing of the second tranche of the private placement as participation of the insider had not been established at that time.
With the closing of the second tranche, Maya has now issued
For further information on Maya visit www.mayagoldsilver.com
Chief Executive Officer
This release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated.
These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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