San Marco to Carry Out a $150,000 Unit Private Placement – Mar 15, 2016

http://www.sanmarcocorp.com/s/NewsReleases.asp?ReportID=742768&_Type=News-Releases&_Title=San-Marco-to-Carry-Out-a-150000-Unit-Private-Placement

Vancouver, B.C. – March 15, 2015: San Marco Resources Inc. (SMN: TSX-V) announces it proposes to carry out, subject to TSX Venture Exchange approval, a private placement of up to 3,000,000 units at $0.05 per unit for gross proceeds of up to $150,000.

Each unit will consist of one common share and one non-transferable warrant, each warrant exercisable to purchase a further share for a period of three years at $0.05 per share in the first year, $0.10 per share in the second year and $0.15 per share in the third year. After the four month restricted resale period expires, the expiry of the warrants may be accelerated if the closing price of San Marco’s shares equals or exceeds, for 15 consecutive trading days, $0.10 per share in the first year, $0.20 per share in the second year or $0.30 per share in the third year and San Marco gives notice to the warrant holders advising, and issues a news release announcing, within two trading days after such 15 day period, that the warrants will expire in 20 trading days.

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