Maya Gold & Silver Announces Private Placement and Updates on Diamond Drilling and Surface Works Activities on AZ-5 Zone

Maya Gold & Silver Inc. (TSX VENTURE:MYA) announced its intention to complete a non-brokered private placement of up to 4,000,000 units at a price of $0.25 each for gross proceeds of up to $1,000,000.

The press release is quoted as saying:

It is not anticipated that any new insiders will be created, nor that a change of control will occur as a result of the private placement. The private placement is subject to regulatory approvals, including final approval by the TSX Venture Exchange. All securities issued pursuant to the private placement are subject to a 4-month hold period. After taking into consideration this private placement, the Company will have 33,129,796 common shares issued and outstanding.

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