San Marco Resources Inc. (TSX VENTURE:SMN) has completed its non-brokered unit
private placement announced December 16, 2011. The private placement was
oversubscribed and a total of 5,176,250 units at $0.10 per unit were issued in
two tranches for gross proceeds of $517,625. The shares, including any shares
issued on exercise of the warrants and as finder's fees, are subject to transfer
restrictions until April 24, 2012 (first tranche of 1,226,250 Units) and May 20,
2012 (second tranche of 3,950,000 Units). 


Each unit consisted of one common share and one-half of a non-transferable
warrant, each whole warrant exercisable to purchase a further share for 18
months at $0.20. After the four month transfer restrictions expire, the expiry
of the warrants may be accelerated if the closing price of the Company's shares
exceeds $0.40 per share for 20 consecutive trading days and the Company gives
notice to the warrant holders that the warrants must be exercised or the
warrants will expire in 30 days. 


Finders' fees totalling $13,200 and 90,000 shares (6% of the gross proceeds in
cash or shares) were paid. 


The proceeds of the placement will be used for continued exploration on its
Mexican gold/silver properties Tecomate and La Buena, and for general working
capital.
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