Maya Silver & Gold Raises $7.7 Million Through Closure of Second Placement

Maya Gold & Silver Inc. (TSXV:MYA) announced that it has closed the second tranche of its non-brokered private placement through the sale of 18,808,000 units raising $4,702,000.

As quoted in the press release:

Each Unit consists of one common share in the capital of the Corporationand one-half of one common share purchase warrant of the Corporation; each whole common share purchase warrantentitling the holder thereof to purchase one additional Common Share at a price of CAD 0.35 per Common Share for a period of 24 months from the date of issuance, expiring on November 26, 2014. In the aggregate, the two tranches of the non-brokered private placement, together with the share exchange completed with Praetorian Resources Limited and announced by press release on July 12, 2012, have resulted in gross proceeds to Maya of CAD 7,702,000.

To view the whole press release, click here.