Southern Legacy Announces Private Placement of Units
11 December 2013 - 7:10AM
Marketwired
Southern Legacy Announces Private Placement of Units
LIMA, PERU--(Marketwired - Dec 10, 2013) - Southern Legacy
Minerals Inc. (TSX-VENTURE:LCY)(BVL:LCY) ("Southern Legacy" or the
"Company") is pleased to announce its intention to complete a
non-brokered private placement offering of units of the Company
("Units") at a price of $0.12 per Unit for maximum gross proceeds
of up to $300,000 (the "Offering"). Each Unit will be comprised of
one common share in the share capital of the Company ("Common
Share") and one full common share purchase warrant ("Warrant").
Each Warrant entitles the holder thereof to purchase one Common
Share ("Warrant Share") at a price of $0.18 per Warrant Share at
any time prior to 4:30 p.m. (Toronto time) on the date that is two
years from the date of the issuance of the Units.
There is no minimum Offering amount. The Company anticipates
that certain of its insiders may participate in the Offering;
however it is not expected that any new insiders will be created,
nor that any change of control will occur, as a result of the
Offering.
The Offering is expected to close on or about December 31, 2013
and is subject to regulatory approval, including approval of the
TSX Venture Exchange. For further details on the Offering, please
contact the Company. All securities issued in connection with the
Offering will be subject to a hold period of four months from the
date of closing. The net proceeds from the Offering will be used
for option payments, expenses related to drilling permit
applications and access rights and for general working capital
purposes.
Forward-Looking Statement:
This news release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward-looking
information or statements. In particular, this news release
contains forward-looking information relating to the Offering and
the use of the proceeds therefrom. The forward-looking statements
and information are based on certain key expectations and
assumptions made by the Company, including expectations and
assumptions concerning the completion of the Offering and the use
of net proceeds of the Offering. Although the Company believes that
the expectations and assumptions on which such forward-looking
statements and information are based are reasonable, undue reliance
should not be placed on the forward looking statements and
information because the Company can give no assurance that they
will prove to be correct.
Since forward-looking statements and information address future
events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results could differ materially
from those currently anticipated due to a number of factors and
risks. Such factors may include the failure to successfully market
the Units and failure to satisfy certain conditions in connection
with the issuance of the Units. Other factors which could
materially affect such forward-looking information are described in
the risk factors in the Company's most recent annual management's
discussion and analysis that is available on the Company's profile
on SEDAR at www.sedar.com. Readers are cautioned that the foregoing
list of factors is not exhaustive. The forward-looking statements
included in this news release are expressly qualified by this
cautionary statement. The forward-looking statements and
information contained in this news release are made as of the date
hereof and the Company undertakes no obligation to update publicly
or revise any forward-looking statements or information, whether as
a result of new information, future events or otherwise, unless so
required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Southern Legacy Minerals Inc.Fernando PickmannPresident and
CEO+011.511.208.4200info@slminerals.comwww.slminerals.com
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