Guerrero Exploration Inc. (“Guerrero” or the “Company“) (TSX-V: “GEX“) announces that the Company has completed the first closing of the previously announced private placement being brokered by Euro Pacific Canada Inc. 2,562,500 units at $0.125 per unit were issued for total gross proceeds of $320,312.50. Each unit consists of one common share and one-half of a common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase one common share at $0.25 for a period of 12 months from the date of closing. Insiders participated as to $37,500. Commissions of $25,828.12 and 206,625 broker warrants exerciseable for 2 years from closing at $0.125 were issued in connection with this closing.
The securities issued in connection with this closing are subject to a hold period until July 30, 2012. The Company intends to use the net proceeds of the offering to fund the advancement of the Company’s properties in Mexico and for general corporate purposes.
About Guerrero Exploration Inc.
Guerrero Exploration Inc. is a Canadian based mineral exploration company with a focus on Mexican Gold, Copper and Silver mining areas known as the Guerrero Gold Belt, Southern Mexican Gold Belt and the Sierra Madre Occidental Belt. The Corporation�s common shares trade on the TSX Venture Exchange under the symbol (GEX) and the Frankfurt Stock Exchange under the symbol (2GU). For further information please visit www.grxpl.com or contact investor relations.
President and CEO
Guerrero Exploration Inc.
Direct: (604) 685-0088 Ext. 229
Corporate Communications: (604) 685-0088 Ext. 226
Email inquiries: [email protected]
For more information on Guerrero Exploration Inc. , please visit our website at www.grxpl.com
Certain statements and information contained in this press release, including but not limited to management�s assessment of Guerrero�s future plans and operations, geological results and proposed exploration plans contain forward-looking statements. In particular, this press release contains statements concerning the anticipated receipt of government claims approval. All statements other than statements of historical fact may be forward looking statements. These statements, by their nature, are subject to numerous risks and uncertainties, some of which are beyond Guerrero�s control including the effect of general economic conditions, industry conditions, changes in regulatory and taxation regimes, government approvals, volatility of commodity prices, escalation of operating and capital costs, currency fluctuations, the availability of services, imprecision of reserve estimates, geological, technical, drilling and processing risks, environmental risks, weather, the lack of availability of qualified personnel or management, stock market volatility, the ability to access sufficient capital from internal and external sources and competition from other industry participants for, among other things, capital, services, acquisitions of reserves, undeveloped lands and skilled personnel that may cause actual results or events to differ materially from those anticipated in the forward looking statements. Such forward-looking statements, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated in the statements made and should not unduly be relied on. These statements speak only as of the date of this press release. Guerrero does not intend and does not assume any obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Guerrero�s business is subject to various risks that are discussed in its filings on the System for Electronic Document Analysis and Retrieval (SEDAR).
Neither the 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.