Latin American Minerals Inc.
TSX VENTURE : LAT

Latin American Minerals Inc.

September 20, 2010 11:02 ET

Pasquale DiCapo Acquires Securities of Latin American Minerals Inc.

TORONTO, CANADA--(Marketwire - Sept. 20, 2010) - Mr. Pasquale DiCapo ("DiCapo"), 130 King Street West, Suite 2500, Toronto, Ontario M5X 1A9 announces that, on September 10, 2010, he acquired ownership of 1,700,000 common shares of Latin American Minerals Inc. ("LAT")(TSX VENTURE:LAT) and 850,000 common share purchase warrants (the "Warrants") (each Warrant entitling the holder thereof to acquire one common share of LAT at a price of $0.20 until September 10, 2012) which securities were acquired by DiCapo directly. These securities represent approximately 1.99% of the current issued and outstanding common shares of LAT (the "Common Shares") (or approximately 2.96% on a partially diluted basis, assuming exercise of the Warrants only). In addition, on September 10, 2010, a joint actor of DiCapo acquired ownership and control of 1,166,334 Common Shares, 583,167 Warrants and 653,306 broker warrants of LAT (the "Broker Warrants") (each Broker Warrant entitling the holder thereof to acquire one Common Share at a price of $0.20 until September 10, 2012), which (i) represented approximately 1.37% of the then issued and outstanding Common Shares (or approximately 2.77% on a partially diluted basis of the Warrants and Broker Warrants held by the joint actor only); and (ii) when taken together with the securities acquired by DiCapo, represent approximately 3.36% of the current issued and outstanding Common Shares (or approximately 5.66% on a partially diluted basis, assuming exercise of the Warrants and Broker Warrant held by DiCapo and the joint actor only).

Immediately following the transaction noted above, DiCapo owned: (i) 3,140,000 Common Shares; and (ii) 1,470,000 common share purchase warrants (including the Warrants). Such securities represent approximately 3.68% of the current issued and outstanding Common Shares (or approximately 5.31% on a partially diluted basis, assuming exercise of the common share purchase warrants held by DiCapo only). In addition, immediately following the transaction noted above, a joint actor of DiCapo owned: (i) 3,666,334 Common Shares; (ii) 583,167 Warrants; and (iii) 1,133,306 broker warrants (including the Broker Warrants) which broker warrants when fully exercised entitle the holder thereof to purchase 1,133,306 Common Shares. Such securities (i) represent approximately 4.29% of the then issued and outstanding Common Shares (or approximately 6.18% on a partially diluted basis, assuming exercise of the Warrants and broker warrants held by the joint actor only); and (ii) when taken together with the securities owned by Dicapo, represent approximately 7.97% of the current issued and outstanding Common Shares (or approximately 11.28% on a partially diluted basis, assuming exercise of the common share purchase warrants and broker warrants held by DiCapo and the joint actor only). 

DiCapo and the joint actor acquired the Common Shares and Warrants pursuant to a subscription agreement dated September 10, 2010 between: (i) LAT and the Offeror for an aggregate purchase price of $255,000 ($0.15 per one unit consisting of one Common Share and one-half of one Warrant); and (ii) LAT and the joint actor for an aggregate purchase price of $174,950.10 ($0.15 per one unit consisting of one Common Share and one-half of one Warrant). The acquisition was part of a larger private placement financing completed by LAT for gross proceeds of $1,500,000. The joint actor received the Broker Warrants for acting as a finder for the financing.

These transactions were made for investment purposes and DiCapo and his joint actor may from time to time acquire additional securities of LAT, dispose of some or all of the existing or additional securities of LAT they hold or will hold, or may continue to hold their current positions depending on market conditions or any other relevant factor.

Contact Information

  • To obtain a copy of the report filed pursuant to applicable
    securities regulations in connection with the foregoing
    DSA Corporate Services Inc.
    Shaun Drake - (416) 848-0107
    (416) 848-0790 (FAX)
    sdrake@dsacorp.ca