Business & Finance
Business and Finance
Business and Finance
Thu, June 18, 2009
Wed, June 17, 2009 Mazorro Resources Inc.: Mazorro Resources Announces Closing of Fully-Subscribed Private Placement Offering
OTTAWA, ONTARIO--(Marketwire - June 17, 2009) - Mazorro Resources Inc. ("Mazorro" or the "Company") (TSX VENTURE:MZO)(FRANKFURT:JAM) announces the closing of a non-brokered private placement offering (the "Offering") for gross proceeds of $160,000.
The Offering consisted of the issuance of 2,000,000 units (the "Units") at a price of $0.08 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant exercisable for one year from closing. Each warrant entitles the holder to acquire one additional common share of the Company at a price of $0.12.
The funds raised pursuant to the Offering will be used to fund the Company's commitments for Mexican property interests and for general working capital requirements. An officer of the Company subscribed for 100,000 Units for $8,000.
All securities issued in the Offering will be subject to a four month hold period from the closing date of the Offering. Completion of this Offering is subject to TSX Venture Exchange acceptance.
Mazorro presently has approximately 17.5 million common shares outstanding and is a tightly held junior mining exploration company targeting gold, silver and copper deposits in the western Mexican state of Sinaloa, around the port city of Mazatlan. Mazorro is focussing on a region offering social and political stability in a country offering a favourable investment climate to foreign investors.
Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities and the timing and amount of expenditures.
Neither the TSX Venture Exchange or 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.
