TORONTO, ONTARIO--(Marketwire - Sept. 27, 2012) - Martina Minerals Corp. (the "Company") (TSX VENTURE:MTN) is pleased to announce that it has received a 30 day extension from the TSX Venture Exchange on the filing deadline of its previously announced non-brokered private placement to October 29, 2012. As previously announced on August 30, 2012, Martina intends to complete an offering ("Offering") for aggregate gross proceeds of up to $1,500,000 consisting of up to 30,000,000 units ("Units") at a price of $0.05 per Unit. Each Unit consists of one (1) common share of the Company (a "Common Share") and one half (1/2) of one warrant ("Warrant"). Each full Warrant entitles the holder to acquire one common share of the Company at a price of $0.10 per Common Share for a period of 24 months from the closing date.
Finders will be entitled to a cash commission in the amount of 6% ("Finder's Fee") of the gross proceeds received from the sale of the Units, and finder's warrants ("Finder's Warrant") equal to 6% of the Units issued pursuant to the Offering. Each Finder Warrant will be exercisable into Units at a price of $0.05 exercisable at any time until 24 months from the closing date.
The proceeds of the Offering will be used in part to finance the acquisition and development of the Boston, San Miguel and COPI properties announced on August 27, 2012, and for general working capital purposes.
About Martina Minerals Corp.
Martina Minerals Corp. is an advanced exploration and development company which owns interests in two tribal mining properties located adjacent to the well known Diwalwal high-grade gold mining center in the Compostela Valley area of Mindanao, Philippines.
NEITHER THE TSX VENTURE EXCHANGE NOR 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.