San Marco Closes Oversubscribed $1.52 Million Private Placement

https://www.sanmarcocorp.com/news/2017/san-marco-closes-oversubscribed-1.52-million-private-placement/

Vancouver, B.C. – November 1st , 2017: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or “the Company”) announces that it has completed its private placement financing announced September 29th, 2017. A total of 8,444,444 units (Units”) were issued at $0.18 per Unit for gross proceeds of $1,519,920, a greater than 20% increase over the original financing target of $1,260,000. Insiders of the Company acquired 1,190,000 (over 14%) of the Units issued in this financing.

Each Unit consisted of one common share of the Company (a “Share”) and one-half of one common share purchase warrant. Each whole warrant (a “Warrant”) entitles the holder to purchase one common share for $ 0.35 until April 30, 2019. The Shares issued and common shares issuable on exercise of the warrants are subject to four month restrictions on resale until March 1, 2018.

Finder’s fees were paid to Haywood Securities Inc. ($41,310) PI Financial Corp. ($4,860), Echelon Wealth Partners ($1,620) and T-Bone Ventures Inc. ($4,493).

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