Maya to Acquire 4 Mining Projects and Proceed With $3 Million Financing

- February 24th, 2011

Maya Gold & Silver Inc.(CVE:MYA) announced that a development and technical sub-committee of the Board recommended the Board of Directors to proceed with the finalization for the acquisitions of 4 mining projects in Morocco

Maya Gold & Silver Inc. (TSXV:MYA) announced that a development and technical sub-committee of the Board recommended the Board of Directors to proceed with the finalization for the acquisitions of 4 mining projects in Morocco.

The press release is quoted as saying:

Concurrently, Maya announces a private placement of 6,666,667 units (the “Units”) at a price of $0.45 each for gross proceeds of $3,000,000. 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 $0.70 for a period of 24 months following the closing.

Click here to access the entire press release.

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