Latin American Minerals Inc. ("the Company") (TSX VENTURE: LAT) is pleased to announce its intention to conduct a private placement consisting of up to 13,200,000 common shares of the Company at $0.25 per common share and 6,600,000 warrants exercisable into common shares within one year of the closing of the transaction. Each warrant is exercisable at $0.35 per common share of the Company. The private placement will be brokered by Maison Placements Canada Inc.
Subject to TSXV approval, Compania de Tierras Sud Argentino S.A., a corporation controlled by the Benetton Group of Italy and a principal shareholder of the Company, proposes to invest $500,000 in the private placement.
The Company intends to use the proceeds of the offering as follows: (a) commence trenching, soil geochemical surveys, ground geophysical surveys and diamond drilling on the Cerro Amarillo and La Carolina properties; (b) for project generation; © for property payments; and (d) the balance for administration and general working capital purposes.
The private placement is scheduled to close on or about November 15, 2006, subject to regulatory approval.
Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of exploration opportunities in Central and South America.
The Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Latin American Minerals Inc.
David Wahl, P.Eng., P.Geo
President and CEO