VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 29, 2017) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA
San Marco Resources Inc. (TSX VENTURE:SMN) (“San Marco” or “the Company”) announces it is arranging a private placement to raise gross proceeds of up to C$ 1,260,000 through the sale of up to 7,000,000 Units in the Company (“the Units”) at a price of $0.18 per Unit (the “Offering”). There is no minimum number of Units being offered.
Each Unit shall consist of one common share of the Company (a “Share”) and one-half of one common share purchase warrant. Each whole warrant (a “Warrant”) shall entitle the holder to purchase one common share at an exercise price of C$0.35 for 18 months following the Closing Date.
The placement will be sold to qualified investors, including shareholders of record on September 27, 2017 resident in Canada. Such shareholders of record are eligible to purchase up to $15,000 worth of Units or more than $15,000 worth based on suitability advice from a registered investment dealer, If, after deducting subscriptions from qualified investors, the subscriptions from existing shareholders exceed the remaining Units available, such remaining Units will be sold to the existing shareholders in proportion to the number of Units subscribed for by them. All the securities issued pursuant to this private placement will be subject to a four month hold period. Completion of the Offering is subject to receipt of all required regulatory and other approvals, including acceptance by the TSX Venture Exchange.