Salazar Announces $1.98 Million Private Placement Financing
Vancouver, British Columbia – Salazar Resources Ltd. (the "Company") (TSX.V:SRL | FSE:CCG) announces a non-brokered private placement financing of up to 9 million units at $0.22 per unit for gross proceeds of $1,980,000. Each unit will consist of one common share of the Company and one-half of one transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of the Company at $0.35 for a period of eighteen months from the date of closing of the private placement. Insiders will be participating in the private placement and there will be finders’ fees payable on a portion of the private placement. The net proceeds from the private placement will be used to fund the Company’s exploration properties and for general working capital purposes.
The securities issued under the private placement will be subject to a four-month hold period from the date of closing. The closing of the private placement is subject to, among other things, acceptance from the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
President & CEO
Salazar Resources Limited
For further information, please contact:
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 news release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements included herein, other than statements of historical fact, are forward- looking information and such information involves various risks and uncertainties. Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the successful completion of the PEA and the timing of completion of the PEA. Such forward- looking information is based on a number of material factors and assumptions, including that contracted parties provide services on the agreed timeframes and that laboratory and other related services are available and perform as contracted. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward- looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.