/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER,
Feb. 12, 2013 /CNW/ - Plata Latina
Minerals Corporation ("Plata Latina" or the "Company") is
pleased to announce it has closed the private placement equity
financing previously announced on January
18, 2013 (the "Offering") with Canaccord Genuity Corp. (the
"Underwriter"). The Company has issued 8,245,000 Units of the
Company (the "Units") at an issue price of C$0.40 per Unit for gross proceeds of
C$3,298,000 (the "Offering").
Each Unit will be comprised of one common share
of the Company and one-half of one common share purchase warrant
(each whole warrant, a "Warrant"). Each Warrant will entitle
the holder to subscribe for one additional common share at an
exercise price of C$0.65 (the
"Warrant Price") for a period of two years from the closing date of
the Offering.
The Company intends to use the net proceeds of
the Offering for continued drilling on its Naranjillo property
where exploration will be focused on establishing continuity along
strike of the initial high-grade discovery. Net proceeds will also
be used to commence a first phase drill program at the Company's
Vaquerias and Palo Alto properties. Vaquerias contains a historical shallow silver
mine, on a major structural target, that was abandoned during the
Mexican revolution with old workings exhibiting samples of up to
1,340 g/t silver*. Plata
Latina has mobilized a drill on site and initial drilling
has started focusing on establishing continuity below these old
workings and ultimately along the expected structure. Initial
drilling at Palo Alto will be
focused on exploring potential structures that have been identified
through mapping and surface sampling.
In connection with the Offering, the Underwriter
received a 5.5% cash commission and broker warrants ("Broker
Warrants") equal to 3.0% of the Units issued pursuant to the
Offering. Each Broker Warrant shall be exercisable for one common
share of the Company at a price of C$0.65 for a period of two years from the closing
date of the Offering.
All shares issued pursuant to the Offering are
subject to a statutory four-month and one day hold period expiring
on June 13, 2013 as prescribed by the
TSX Venture Exchange and applicable securities laws.
This news release is intended for distribution
in Canada only and is not intended
for distribution to United States
newswire services or dissemination in the
United States. The securities being offered have not,
nor will they be registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold within
the United States or to, or for
the account or benefit of, U.S. persons absent U.S. registration or
an applicable exemption from the U.S. registration requirements.
This release does not constitute an offer for sale of
securities in the United
States.
* Samples from old workings are taken from 1983
Mexican Government Vaquerias Sampling and Report. These results
have not been verified by Plata
Latina or a Qualified Person.
About Plata Latina Minerals
Plata Latina Minerals is a Canadian exploration company with a
portfolio of five silver-gold properties situated in the prolific
Mexican Silver Belt focused on discovering new silver-gold vein
districts. The Company is currently concentrating its
drilling efforts on its 100% owned Naranjillo property which
consists of 31,701 hectares and is approximately 35 kilometres
southeast of the world-class Guanajuato epithermal silver-gold vein
district in Mexico. The Company's
first discovery hole at Naranjillo returned 3,181 g/t silver and
13.28 g/t gold over 10.95 metres. Plata
Latina's expertise in the ore horizon concept and extensive
experience in Mexico provides a
competitive edge for discovery of new districts between old
historic deposits. Its highly experienced management team and board
are focused on developing its portfolio of high-potential targets
and exploring additional value-creation opportunities. The Company
trades on the TSX Venture Exchange under "PLA".
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and other
statements that are not historical facts including statements about
the intended use of proceeds from the bought deal private placement
and planned exploration program. Such forward-looking
statements are subject to known and unknown risks, uncertainties
and assumptions that could cause actual results to vary materially
from target results and the results or events predicted in these
forward-looking statements. As a result, investors are cautioned
not to place undue reliance on these forward-looking
statements.
The forward-looking statements contained in this
news release are made as of the date of this release. Except
as required by applicable law, Plata
Latina disclaims any intention and assumes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Forward-looking information reflects the current expectations or
belief of the Company based on information currently available and
such information is subject to a number of assumptions, risks and
uncertainties, including risks related to exploration,
uncertainties related to financings; the uncertainties of
interpreting exploration results and the other risks associated
being a mineral exploration company.
SOURCE Plata Latina Minerals