Source Exploration Corp. announced today that it has appointed Mr. Jesus Castro Mora, M.Sc., of Mexico City as a geological consultant to the company to assist the Corporation with identifying and evaluating high potential precious metals properties in Mexico.
VANCOUVER, BRITISH COLUMBIA, Nov 25, 2011 (MARKETWIRE via COMTEX) — Guerrero Exploration Inc. (“Guerrero” or the “Corporation”) (tsx venture:GEX) announces that it has completed the first closing of its previously announced private placement financing. The Corporation issued 4,787,831 ($718,174.65) units at $0.15 per unit, with each unit consisting of one common share and one common share purchase warrant. Each warrant is exercisable for 12 months from closing at an exercise price of $0.30 per common share, subject to acceleration in the event the Corporation disseminates a press release advising that its shares have traded on the TSX Venture Exchange at a price per share greater than $0.60 for 10 consecutive trading days (including days where no shares are actually traded), in which case the warrants shall expire, without further notice, on the 31st day following the issuance of the press release. Notwithstanding the foregoing, in no event shall the Corporation be entitled to issue such a press release within four months of the date of closing. The Corporation plans to use the proceeds from this financing for general working capital and exploration. Northern Securities Inc., Haywood Securities Inc., Canaccord Genuity Corp. and Macquarie Private Wealth Inc. participated as finders in the financing. Guerrero paid finders’ fees of $50,258 and issued 335,053 finders’ warrants, each of which will entitle the holder to subscribe for one additional unit at the issue price for a period of one year from closing.
Globexplore is a customer focused, technology driven mineral exploration drilling contractor devoted to top of class drilling methods and techniques that only years of experience can achieve. Every day we strive to be the industry leader by providing the highest rate of performance, professionalism, safety and environmental responsibility.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
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