TORONTO, ONTARIO--(Marketwired - Apr 30, 2015) - Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Company") announces that it has closed a financing under revised terms to those announced in the April 21, 2015 press release. The Company has issued $145,075 in promissory notes bearing simple interest at 1% per month. 4,145,000 share purchase warrants exercisable at $0.05 for a term of twenty four months will be issued in relation to this financing.
The promissory notes are unsecured, repayable at the Company's discretion at any time with written notice, and mature on April 29, 2016. One insider of the Company participated in the financing for an amount of $10,500.
Final approval has been received from the TSX Venture Exchange. No finder's fees were paid on the financing. The net proceeds are to be used for general working capital purposes to address a short term working capital deficiency.
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 pilot plant operation to encompass heap-leach gold recovery from mineralization extracted in open pit bulk sampling activities at its fully permitted mining concession. Three reusable leach pads are in operational trials.
Six large gold zones are ready for drill testing on the Company's adjacent exploration claims, also part of the Company's large 15,020 hectare Paso Yobai gold project.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact
Miles Rideout President and CEO (1-416) 363-0841 or (1-416) 902-8558 information@latinamericanminerals.com www.latinamericanminerals.com
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