Maya Gold & Silver closes $1.5M insiders-led private placement

Ted Liu

Updated on:

Blainville, QC (pcJ News Brief) – Maya Gold & Silver (TSX-V: MYA) has closed a non-brokered private placement of 11,538,462 units at $0.13 per unit for gross proceeds of $1,500,000.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles its holder to purchase one additional common share at an exercise price of $0.20 until September 11, 2018, subject to accelerated expiry.

Four directors of the company purchased a total of 10,384,616 units.

The private placement is subject to receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

Net proceeds will be used for working capital.

photo credit: Maya Gold & Silver