Latin American Minerals Inc. (TSXV:LAT,OTCQX:LATNF) has closed its previously announced $1,000,000 financing.
As quoted in the press release:
Pursuant to the securities purchase agreement (the “Agreement”) dated June 25, 2014 between the Company and Pinetree Capital Ltd. (“Pinetree”), the Company issued 10,000,000 common shares to Pinetree Capital Ltd. at a deemed price of $0.10 per share for a transaction value of $1,000,000, in exchange for 2,000,000 common shares of Pinetree at a deemed price of $0.50 per share (the “Pinetree shares”). The LAT and Pinetree shares are subject to a four month hold period. There were no warrants or finders’ fees associated with the Financing.
Latin American Minerals President and CEO, Miles Rideout, said:
We would like to thank shareholders for their support in approving this financing which allows the Company to increase the scale of the evaluation and exploration efforts on six mapped gold zones at our Paso Yobai project.