/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, Aug. 28, 2014 /CNW/ - Plata Latina
Minerals Corporation ("Plata Latina" or the "Company") has
closed the non-brokered private placement of 11,230,000 units
("Units") at a price of C$0.10 per
Unit for gross proceeds of C$1,123,000. Each Unit comprises of one
Plata Latina Common Share ("Share")
and one half of one common share purchase warrant ("Warrant"). Each
whole Warrant entitles the holder to purchase one additional Share
at a price of C$0.25 per Share until
August 27, 2016.
The net proceeds from the financing will be used for the next
drill program at Naranjillo, where a discovery is already in
progress. The drill program has commenced and contemplates
six holes (4,750 metres) to optimize orientation of subsequent
drilling for resource definition (See Appendix A for plan view).
Drilling at Naranjillo, which is located approximately 35
kilometres from Guanajuato and on
the same structural trend that hosts Guanajuato's veins, has identified a target
having geology identical to that hosting Guanajuato's Veta
Madre ore bodies. Planned drilling is therefore set to
explore both the Guanajuato Veta Madre-style setting as well as
neighbouring veins. Proceeds will also be used for general
corporate purposes.
As prescribed by the TSX Venture Exchange and applicable
securities laws, the securities (and all underlying securities)
issued in the private placement are subject to a four-month hold
period expiring December 28,
2014.
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 efforts on its Naranjillo property,
located approximately 35 kilometres southeast of the world-class
Guanajuato district in
Mexico, where Plata Latina's first discovery hole was drilled
returning 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 its Regulation Service
Provider (as that term is defined in policies of the TSX Venture
Exchange 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