Maya Gold & Silver Completes CAD 10 M Financing
28 3월 2014 - 10:39PM
Marketwired
Maya Gold & Silver Completes CAD 10 M Financing
BLAINVILLE, QUEBEC--(Marketwired - Mar 28, 2014) - Maya Gold
& Silver Inc. ("Maya" or the "Corporation") (TSX-VENTURE:MYA)
is pleased to announce, further to its news releases dated November
20, 2013 and February 10, 2014, the closing of the third and final
tranche of its non-brokered private placement for an amount of CAD
7,900,000 as part of a total of CAD 10,000,000. The private
placement is an 8% unsecured convertible debentures of Maya (the
"Debentures") which will mature 36 months following the date of
issue of the Debentures (the "Maturity Date"). Interest on the
Debentures will be payable quarterly.
At Maturity, the Debenture holders will have the option to
receive: (i) cash; or (ii) common shares of Maya, at a conversion
price equal to CAD 0.35 per common share; or (iii) silver ingots
produced from the Zgounder mine at the option of the holders at a
price per ounce of silver equal to (a) the spot market price of
silver or (b) $US18 per ounce.
In connection with the third closing, Maya paid a finder's fee
to an arm's length third party in the amount of CAD 377,800 which
represents 4.8% of the proceeds.
The private placement is subject to receipt of all necessary
regulatory approvals, including the final approval of the TSX
Venture Exchange. All securities issued in connection with the
second tranche closing are subject to a statutory hold period of
four months and one day.
The Corporation has used and intends to use the net proceeds of
the Private Placement:
- to purchase underground mining equipment and chemicals aimed to
reach underground production at an estimated rate of 95,000 ounces
of silver per month;
- for further planned development of the Zgounder silver mine in
Morocco.
ABOUT MAYA
Maya Gold & Silver Inc. is a Canadian listed mining focused
on the exploration and development of gold and silver deposits in
Morocco. Maya recently initiated mining at its Zgounder Mine. The
Corporation's shares trade on the TSX Venture Exchange under the
symbol "MYA".
For further information on Maya visit www.mayagoldsilver.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.
Forward-looking
statements
This release may
contain forward-looking statements including management's
assessments of future plans and operations, and expectations of
future production. These statements are based on current
expectations that involve a number of risks and uncertainties,
which could cause actual results to differ materially from those
anticipated. These risks include, but are not limited to, the risks
associated with the mining and exploration industry (e.g.
operational risks in development, exploration and production;
delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections
relating to production and the uncertainty of the availability of
capital). The assumptions used in the preparation of such
statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.
Maya Gold & Silver Inc.Guy GouletChief Executive
Officer450-435-0700 ext. 204Nathalie DionInvestor
Relations450-435-0700 ext. 202
Maya Gold & Silver Inc. (TSXV:MYA)
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