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| | September 30, 2009
Silvermex Resources Ltd. Closes Non-Brokered Financing of $774,180
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| | Silvermex Resources Ltd. (the "Company") announces that further to its news release dated August 13, 2009, it has closed the non-brokered private placement of 4,554,000 units (the "Units") at a price of $0.17 per Unit for gross proceeds of $774,180. Each Unit consists of one common share and one share purchase warrant. Each warrant (a "Warrant") will entitle the holder to purchase an additional common share for a period of 12 months from closing at a price of $0.20 per share.
Insiders of the Company subscribed for 1,950,000 of the Units (43% of the private placement).
The common shares and Warrants comprising the Units are subject to a hold period expiring January 12, 2010, 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 $17,666.
The proceeds of the private placement are intended to be used for general working capital purposes.
On Behalf of the Board of Directors of
Silvermex Resources Ltd.
Per: "Bruce Bragagnolo"
Bruce Bragagnolo
CEO & Director
For further information contact:
Duane Nelson
520-609 Granville St.
Vancouver, BC Canada
V7Y 1G5
Tel: 604-638-8978
duane@silvermexresources.com
Bruce Bragagnolo
520-609 Granville St
Vancouver, BC Canada
V7Y 1G5
Tel: 604-682-4004
bruce@silvermexresources.com
"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."
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 our 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. |
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