Guerrero Announces Financing
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/02/11 -- Guerrero Exploration Inc. (TSX VENTURE: GEX) ("Guerrero" or the "Corporation") announces that it will undertake a non-brokered private placement of up to $1,500,000 by issuing 10,000,000 units ("Units") at $0.15 each.
Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for 12 months from closing at an exercise price of $0.30 per common share, subject to acceleration in the event the Corporation disseminates a press release advising that its shares have traded on the TSX Venture Exchange at a price per share greater than $0.60 for 10 consecutive trading days (including days where no shares are actually traded), in which case the warrants shall expire, without further notice, on the 31st day following the issuance of the press release. Notwithstanding the foregoing, in no event shall the Corporation be entitled to issue such a press release within four months of the date of closing.. The Corporation plans to use the proceeds from this financing for general working capital and exploration. Guerrero may pay finder's fees to those assisting it in completing this financing.
The Corporation also wishes to announce that Kevin J. Ernst has resigned from its advisory board. Guerrero wishes to thank Kevin for his contribution to the Corporation while he served on that board.
About Guerrero Exploration Inc.
Guerrero is committed to a long term business strategy designed to achieve optimal levels of profitability and shareholder value. Guerrero is a Canadian based exploration mining company with a focus on the high yielding Mexican copper, gold and silver mining area known as the Southern Mexican Gold Belt and the Sierra Madre Occidental Belt. The Corporation's common shares trade on the TSX Venture Exchange under the symbol "GEX". For more information, please visit or contact investor relations.
Neither the 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:
Guerrero Exploration Inc.
David Stadnyk
President and Chief Executive Officer
604.685.0088 Ext. 229
Guerrero Exploration Inc.
Investor Relations
604.685.0088 Ext. 226
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Datum: 02.11.2011 - 20:38 Uhr
Sprache: Deutsch
News-ID 83352
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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