Guerrero Amends Terms of $1,500,000 Brokered PrivaGuerrero Exploration Inc.
TSX VENTURE : GEX
March 20, 2012 04:00 ET
Guerrero Amends Terms of $1,500,000 Brokered Private Placement, Euro Pacific Canada Acts as Agent
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2012) - Guerrero Exploration Inc. (TSX VENTURE:GEX) ("Guerrero" or the "Company") announces that the Company has amended the terms the previously announced private placement being brokered by Euro Pacific Canada Inc. ("the Agent"). Subject to regulatory approval, the placement now consists of up to 12,000,000 Units at
.125 per Unit for total gross proceeds of $1,500,000. Each Unit will consist of one common share and one-half of a common share purchase warrant (a "Warrant"). In addition, the Company will grant the Agent an option to sell up to 15% additional Units under the same terms to raise additional gross proceeds of $225,000. Each whole Warrant will entitle the holder to purchase one common share at
.25 for a period of 12 months from the date of closing.
The Units issued in connection with the private placement will be subject to a four month hold period from the date of closing. The Company intends to use the net proceeds of the Offering to fund the advancement of the Company's properties in Mexico and for general corporate purposes.
Guerrero attended the recent Guerrero Gold Belt conference in Toronto hosted by the Agent, who has extensive knowledge of the Guerrero Gold Belt and has been involved in recent syndicate financings of companies with properties on the Belt.
About Euro Pacific Canada Inc.
Euro Pacific Canada is an IIROC registered brokerage headquartered in Toronto, Ontario specializing in foreign markets, precious and strategic metals investing. The firm offers an integrated platform of investment banking, institutional sales and trading, research, and private client services following the advice laid out by Euro Pacific Capital's Chief Global Strategist, Peter Schiff, an internationally recognized economist and market strategist. Additional information is available at www.europac.ca.
About Guerrero Exploration Inc.
Guerrero Exploration Inc. is a Canadian based mineral exploration company with a focus on Mexican Gold, Copper and Silver mining areas known as the Guerrero Gold Belt, Southern Mexican Gold Belt and the Sierra Madre Occidental Belt. The Corporation's common shares trade on the TSX Venture Exchange under the symbol (GEX) and the Frankfurt Stock Exchange under the symbol (2GU). For further information please visit www.grxpl.com.