Maya Gold & Silver Completes $1.5 Million Private Placement of Units

Maya Gold & Silver Inc. (TSXV:MYA) announces that it has closed the non-brokered private placement previously announced on October 19, 2010.

The press release is quoted as saying:

The Company has raised $1,525,000 through the issuance of 5,446,428 units at a price of $0.28 per unit. Each Unit consists of one common share of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.40 per Common Share during 24 months following the closing.

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