TSX-V: SMN

News

2014 News

Information posted is accurate at the time of posting, but may be superseded or qualified by subsequent press releases.

Vancouver, B.C. - March 11, 2014: San Marco Resources Inc. (SMN: TSX-V) announces that it proposes to carry out a non-brokered private placement of 8,000,000 units at $0.05 per unit for gross proceeds of up to $400,000.

Each unit will consist of one common share and one non-transferable warrant, each warrant exercisable to purchase a further share for a period of 3 years: $0.05 per share for year 1, and $0.10 per share for years 2 and 3. After the four month restricted resale period expires, the expiry of the warrants may be accelerated if the closing price of the Company’s shares equals or exceeds $0.20 per share for 15 consecutive trading days and the Company gives notice to the warrant holders that the warrants will expire in 30 days.

Finders’ fees equal to 7% of the gross proceeds may be paid in cash or shares. The size of the placement may be increased, or reduced, at the Company’s option and is subject to regulatory approval.

The proceeds of the placement will be used for continuing:

  • sampling, mapping and trenching on the Company’s 100% owned Los Carlos property in preparation for seeking a J.V. partner;
  • discussions regarding partners for La Buena and Angeles properties; and
  • property reviews and geological investigations primarily in the prolific Sonora / Mojave Megashear Gold Belt, north-west Mexico.

The placement is expected to close on or about April 7th, 2014.

About San Marco
San Marco Resources Inc. is a Canadian mineral exploration company aggressively pursuing three promising projects in mining-friendly Mexico. San Marco is currently focused on its Angeles, La Buena and Los Carlos properties, all of which have either been drilled in 2013, or are being explored in preparation for drilling in the near future. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.

For further information, contact:

Robert D. Willis
CEO
604-568-5951
604-813-2606
rwillis@sanmarcocorp.com

Sophie Taylor
Corporate Communications
604-568-5951
604-219-7976
staylor@sanmarcocorp.com

This news release contains “forward-looking information” and “forward-looking statements” (together, the “forward-looking statements”), which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. These forward-looking statements are made as of the date of this news release. San Marco Resources Inc. disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

© 2019 San Marco Resources Inc.
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