|
| | February 09, 2009
Silvermex Resources Ltd. Closes Non-Brokered Financing of $363,500
|
| | Silvermex Resources Ltd. (the "Company") announces that further to its news release dated December 24, 2008, it has closed the non-brokered portion of its private placement. The non-brokered portion consists of 3,635,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of $363,500. Each Unit consists of one common share and one-half of one share purchase warrant. Each whole warrant (a "Warrant") will entitle the holder to purchase an additional common share for a period of 18 months from closing at a price of $0.15 per share.
The common shares and Warrants comprising the Units are subject to a hold period expiring June 1, 2009, as are any common shares issued on exercise of the Warrants (if exercised prior to the expiry of such hold period).
The Company paid cash finders' fees totaling $29,550.
The proceeds of the private placement are intended to be used to fund work programs on the Company's San Marcial Property in Mexico and for general working capital purposes.
The Company also announces the cancellation of 450,000 incentive stock options at $1.11 and 100,000 incentive stock options at $0.90 granted to non-insiders and the granting of 3,000,000 incentive stock options at an exercise price of $0.26 per share, subject to TSX Venture Exchange approval. The options expire on February 6, 2014.
On Behalf of the Board of Directors of
Silvermex Resources Ltd.
Per: "Bruce Bragagnolo"
Bruce Bragagnolo
CEO & Director
For Further information, contact:
Bruce Bragagnolo, LLB
Chief Executive Officer
Vancouver, BC, Canada
Tel: 604-638-8980
bruce@silvermexresources.com
For Investor Relations, contact:
Jason Leikam
Corporate Development
Vancouver, BC, Canada
Tel: 604-638-8979
jason@silvermexresources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect out current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results. |
| |
| | You can view the Next News Releases item: Mon Mar 16, 2009, Silvermex Resources Initiates Preliminary Economic Assessments on its La Frazada Silver Mine
You can view the Previous News Releases item: Mon Feb 2, 2009, Silvermex Resources Ltd. Closes Brokered Financing Of $1,500,000
You can return to the main News Releases page, or press the Back button on your browser.
|
|
