VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 2, 2015) – San Marco Resources Inc. (TSX VENTURE:SMN) announces that it has completed its warrant exercise incentive program respecting warrants issued under two non-brokered private placements in 2014 and 2015. Under the program, 2,353,000 warrants were exercised at $0.05 per share for proceeds of $117,650 and 2,353,000 non-transferable “incentive” share purchase warrants, entitling the holder to acquire one common share at an exercise price of $0.05 until October 16, 2018, were issued.
The proceeds from the early exercise of the outstanding warrants will be used for continued exploration of San Marco’s Cuatro de Mayo Project in Sonora State, Mexico and general working capital purposes