Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

July 25, 2011 12:00 ET

Plexmar Resources Inc.: Completion of a $417,000 Private Offering

QUEBEC CITY, QUEBEC--(Marketwire - July 25, 2011) - Plexmar Resources Inc. (TSX VENTURE:PLE) announces that it has completed a private offering for a gross amount of $417,000. A total of 5,212,500 units (the "Units") at a price of $0.08 per Unit will be issued. Each Unit is comprised of one Plexmar common share and one common share purchase warrant. Each whole common share purchase warrant entitles its holder to subscribe to one additional common share for a period of 18 months at a price of $0.12 per share. Plexmar intends to use the proceeds of this private offering for the implementation of its exploration programs and for its working capital.

For the purposes of the closing of is private offering, Plexmar has granted to some intermediaries a total cash compensation of $31,360 and a total of 417,000 broker warrants entitling the holders to subscribe to one additional common share for a period of 18 months at a price of $0.12 per share.

Securities issued as part of this offering are subject to a four-month hold period under applicable securities legislation.

Neither 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.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

PROFILE

Plexmar is a junior company focused on precious metals in Peru

PROPERTIES

Gold :Peru: Oro Del Norte, Marilia, Bolsa Del Diablo,

CORPORATE INFO

- 228M shares outstanding

- Symbol: PLE (TSX-V)

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    President
    418 658-6776 ext.107
    www.plexmar.com

    Paradox Public Relations:
    866 460-0408
    514 341-0408