San Marco Resources Inc.
TSX VENTURE : SMN

San Marco Resources Inc.

August 09, 2012 15:49 ET

San Marco Closes Final Tranche of $420,000 in Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 9, 2012) - San Marco Resources Inc. (TSX VENTURE:SMN) has completed the second and final tranche of its non-brokered private placement of units announced June 20, 2012 by selling 4,200,000 units at $0.10 per unit for gross proceeds of $420,000. The placement was oversubscribed and a total of $720,000 was raised. The proceeds of the placement will be used for continued drill target definition on San Marco's 100% owned Los Carlos II gold-silver property, drill target identification on its recently acquired Angeles property, and general working capital.

Each unit issued in the final tranche consisted of one common share and one non-transferable warrant to purchase a further share for 24 months at $0.20. After December 9, 2012, the expiry of the warrants may be accelerated if the closing price of the Company's shares exceeds $0.40 per share for 20 consecutive trading days and the Company gives notice to the warrant holders that the warrants will expire in 30 days.

Haywood Securities Inc. was paid a 6% finder's fee in cash or shares ($15,600 and 24,000 shares) in respect of certain investors that participated in the final tranche. All shares, including shares issued on exercise of the warrants, are subject to a four month restricted resale period expiring on December 9, 2012.

About San Marco Resources Inc.

San Marco Resources Inc. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of precious metal properties in Mexico. San Marco is currently focused on its Angeles, La Buena and Los Carlos properties, all of which are either drill ready or in preparation for drilling in the near future. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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