The Offering is fully subscribed for by Pinetree Capital Ltd. ("Pinetree") which will issue 2,000,000 common shares of Pinetree (the "Pinetree shares") to the Company, in payment of the purchase of the LAT shares. Pinetree is an insider and currently the largest shareholder of the Company. Subscriptions from such insiders are considered related-party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101.
The issuance of the LAT shares to Pinetree will result in Pinetree holding approximately 29% of the Company's undiluted stock, and result in the creation of a "Control Person" as defined by the
The net proceeds from the private placement will be used at the Company's Paso Yobai gold project and for general working capital purposes.
About the Company:
The Company holds a 100% interest in an on-site concentrator plant (mill) at the fully permitted
The Company holds 100% of the adjacent Paso Yobai X-Mile Trend exploration concessions, the present exploration focus. The Company also holds 100% interests in highly prospective diamond, REE, niobium and green-fields gold projects in
The Company's public documents may be accessed at www.sedar.com.
For further information, please visit our website at www.latinamericanminerals.com or email us at email@example.com.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements unless required by securities law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Latin American Minerals Inc. Miles RideoutPresident and CEO Toronto: (1-416) 902-8558 firstname.lastname@example.org Source: Latin American Minerals Inc.