Ferrum Americas Mining Closes Private Placement Financing
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/21/13 -- Ferrum Americas Mining Inc. , (TSX VENTURE: FEM) ("Ferrum" or the "Company") is pleased to announce it has completed a non-brokered private placement of units (the "Units"). The Company issued 1,766,667 Units at a price of $0.15 per Unit for gross proceeds of $265,000. Each Unit consists of one common share of the Company and one full common share purchase warrant.
Each warrant shall be exercisable for a period of 36 months to purchase one common share of the Company at a price of $0.20 per share.
No fees or commission were paid with respect to the private placement.
Proceeds from the private placement will be used for general corporate purposes.
The private placement remains subject to the approval of the TSX Venture Exchange.
About Ferrum Americas Mining
Ferrum Americas is focused on developing iron ore projects in the Americas. The Company is targeting high quality deposits that have access to existing transportation infrastructure and have relatively simple beneficiation processing requirements.
Ferrum Americas has rights to acquire a 98% interest in the Cerro Rojo iron ore project in Bolivia. Located 600 kilometres east of Santa Cruz and approximately 55 kilometres from Puerto Suarez and the Hidrovia river system near Corumba, Brazil, Cerro Rojo is a large banded iron formation striking for more than 4 kilometres, according to reports prepared by Rio Tinto in 1999 and verified by Ferrum.
A NI 43-101 mineral resource estimate, prepared by P&E Mining Consultants Inc., includes Indicated resources of 111.0 million tonnes at 48.1% Fe and Inferred resources of 175.9 million tonnes grading 48.8% Fe at a 15% iron cut-off grade.
At a cut-off grade of 50% Fe, Indicated resources are 31.2 million tonnes at 51.5% Fe and Inferred resources are 63.0 million tonnes at 52.0% Fe. The NI-43-101 Technical Report is available at .
Ferrum is also evaluating other iron ore opportunities within Bolivia and in neighbouring jurisdictions, where the criteria of low capital costs and simple processing are also met.
Forward Looking Statements
This news release may contain forward-looking statements that are based on Ferrum Americas Mining Inc.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Ferrum Americas Mining Inc.
Laurence Curtis
Chairman
1 289 242 7422
Ferrum Americas Mining Inc.
Nick Tintor
President and CEO
1 416 987 0855
Ferrum Americas Mining Inc.
Leslie Haddow
Corporate Secretary
1 416-637-3523
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 21.05.2013 - 15:04 Uhr
Sprache: Deutsch
News-ID 262088
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 182 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Ferrum Americas Mining Closes Private Placement Financing"
steht unter der journalistisch-redaktionellen Verantwortung von
Ferrum Americas Mining Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
