Aguila American Resources Ltd.

January 18, 2007 09:01 ET

Aguila American Resources Ltd.: Corporate Finance

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - The Board of Directors of Aguila American Resources Ltd. (TSX VENTURE:AGL) wishes to announce a non-brokered private placement of up to 2,250,000 units at a price of $0.30 per unit. Each unit consists of one common share in the Company and one half non-transferable share purchase warrant. One half share purchase warrant will entitle the holder to acquire one common share of the Company for Cdn$0.40 issued for 6 months.

The warrants will also carry a forced conversion feature such that should the common shares of the Company trade at or above $1.00 for twenty consecutive trading days then the warrants must be exercised within 30 days or be cancelled. A finder's fee of 7% is payable in cash on this financing.

The funds will be used for working capital and for ongoing exploration on the Company's resource properties.

The financing is subject to acceptance for filing with the regulatory authorities.

On behalf of Aguila American Resources Ltd.,

John Huguet, President & CEO

About Aguila American:

Aguila American Resources Ltd. (TSX VENTURE:AGL) is a junior mineral exploration company engaged in the acquisition and exploration for precious and base metals on unproven mineral interests located in Peru. The Company is currently focusing its financial resources on its Angostura Property in Peru where the Company is undertaking geological investigations and preparing a drill program to test the Angostura Property.

This news release may contain forward-looking statements regarding upcoming work programs and events. Actual results may differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Aguila American Resources Ltd.
    John Huguet
    President & CEO
    (604) 685-9316
    (604) 683-1585 (FAX)