Torex Gold Resources Inc. is pleased to announce that it has filed a technical report prepared in accordance with National Instrument 43-101 in support of the Company’s September 4, 2012 news release, which included a mineral reserve estimate at its Morelos Gold Project in Mexico.
Oremex Silver Inc. today announced that it has closed the equity portion of the non-brokered private placement previously disclosed by the Company on September 7, 2012. The Equity Private Placement raised gross proceeds of $750,000 through the issue of 13,636,364 units of the Company, each Share Unit consisting of one common share and one common share purchase warrant, at a purchase price of $0.055 per Share Unit. Each Warrant is exercisable into Shares at a price of $0.10 per Share, expiring in five years from the date of issue.
Alphamin Resources Corp. is pleased to announce that it has transferred the “Aurora” concessions in the area of Coyuca de Catalan, Guerrero State, to Cigma Metals Corporation.
Scorpio Mining Corporation today announced an independent updated Mineral Resource estimate for its 100% owned San Rafael Development Project in Sinaloa State, Mexico completed by Mine Development Associates of Reno, Nevada (“MDA”).
Arian Silver Corporation, a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, is pleased to announce that it has received positive results from an independent metallurgical report as part of its plan to construct and operate a new custom plant and milling facility at its 100% owned San José operation in Zacatecas, Mexico.
Torex Gold Resources Inc. has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis by way of a short form prospectus, 175,000,000 units each unit consisting of one common share and one quarter of one common share purchase warrant, at a price of C$2.00 per Unit for gross proceeds of C$350 million (the “Offering”). Each whole common share purchase warrant will entitle the holder to purchase one common share of the Company at a price of $2.65 prior to the date which is 12 months following the closing of the Offering. The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about October 23, 2012 and is subject to the Company receiving all necessary regulatory approvals.
Further to news release dated September 10, 2012, Defiance Silver Corp is pleased to announce that it has closed the second and final tranche of its amended private placement with the issuance of 1,675,000 units at a price of $0.20 per Unit for gross proceeds of $335,000. These units are subject to a four month hold period expiring four months from the date of issue. Gross proceeds from the two tranches totals $883,300. This amount includes an oversubscription of $383,300.
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