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Maya Gold and Silver Inc Update on CAD7,500,000 Private Placement


Monday, 5 Nov 2012 03:45pm EST 

Maya Gold and Silver Inc announced that it is pursuing its previously announced non-brokered private placement of up to 30,000,000 units (the Units) at a price of CAD0.25 per Unit for aggregate gross proceeds to Maya of up to CAD7,500,000 (the Private Placement). Maya expects to close a second tranche of the Private Placement within the next two weeks and will issue a further news release at such time. As previously announced by press release on September 13, 2012, Maya has closed a first tranche of the Private Placement through the sale to Praetorian Resources Limited ("Praetorian") of 5,000,000 Units for gross proceeds to the Corporation of CAD$1,250,000. Such subscription by Praetorian added to the share exchange that occurred between Maya and Praetorian, announced by press release on July 12, 2012, and pursuant to which Maya issued and exchanged 7,000,000 common shares of the share capital of Maya at a deemed issue price of CAD0.25 per share (total aggregate deemed value of CAD1,750,000) in exchange for ordinary shares and subscription shares of Praetorian, represent a total investment of CAD3,000,000 by Praetorian in the share capital of Maya. 

Company Quote

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17 Sep 2014