Salazar Resources closes two financings for $5-million - Source: Iminesco.com

Sept. 10, 2010 - PRLog -- Salazar Resources closes two financings for $5-million


2010-09-10 10:34 ET - News Release


Mr. Fredy Salazar reports

SALAZAR ANNOUNCES CLOSING OF $5 MILLION FINANCING

Salazar Resources Ltd. has closed its brokered private placement announced in Stockwatch on Aug. 18, 2010, with Canaccord Genuity Corp. of 3,639,100 units at a price of $1.10 per unit for proceeds of $4,003,010. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to subscribe for one additional common share of the company for a period of two years from the date of closing at a price of $1.50 in the first year and $1.75 in the second year. The securities issued are subject to a four-month hold period expiring in January, 2011.

In addition, the company completed a non-brokered private placement, where the company issued 909,100 units at a price of $1.10 per unit for proceeds of $1,000,010.

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