Latin American Minerals Inc.

Latin American Minerals Inc.

November 21, 2006 15:50 ET

Latin American Minerals Inc. Announces Closing of Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 21, 2006) - Latin American Minerals Inc. (the "Company")(TSX VENTURE:LAT) is pleased to announce the closing of a private placement for gross proceeds of $3,350,500 consisting of 13,402,000 common shares of the Company at $0.25 per common share and 6,701,000 warrants. Each warrant is exercisable at $0.35 per common share of the Company within one year following the closing. A second tranche closing for gross proceeds of $444,500 is expected in the upcoming 10 days. Maison Placements Canada Inc.(the "Agent") acted as the agent on the private placement. The Agent has received 1,340,200 compensation options and will receive 177,800 compensation options on closing of the second tranche, plus a commission representing 8% of the gross proceeds of the offering.

David Wahl, the Company's president and Chief Executive Officer stated that "the private placement was fully subscribed and we would like to thank investors for their overwhelming support and confidence in management to create shareholder value."

Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of exploration opportunities in Central and South America.

The Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Latin American Minerals Inc.
    David Wahl, P.Eng., P.Geo
    President and CEO
    (416) 843-7851