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San Marco Resources Inc (3)
Symbol SMN
Shares Issued 32,738,898
Close 2020-05-14 C$ 0.23
Recent Sedar Documents

San Marco Resources arranges $690,000 private placement

2020-05-15 09:20 ET - News Release

Mr. Robert Willis reports

SAN MARCO ARRANGES $690,000 PRIVATE PLACEMENT

San Marco Resources Inc. has arranged a private placement of three million units at a price of 23 cents per unit for gross proceeds of $690,000. Each unit will consist of one common share and one share purchase warrant to purchase one common share for three years at a price of 30 cents. No finders' fees will be payable in connection with the placement.

The private placement is 100 per cent subscribed by members of the Augusta Group including over 50 per cent by Augusta Investments Inc., a company beneficially held by Richard W. Warke. The Augusta Group is a mining sector focused management group based in Canada and the United States. Augusta has an industry leading record of value creation totalling over $4.5-billion in exit transactions since 2011, and has strategic partnerships with the leading entrepreneurs in the mining sector. Additional information on the Augusta Group can be found at its website.

Proceeds of the private placement will be used for financing exploration of the Buck property and working capital.

All the securities issued pursuant to this private placement will be subject to a four-month restricted resale period. Completion of the placement is subject to the approval of the TSX Venture Exchange.

About San Marco Resources Inc.

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining-friendly jurisdictions in both British Columbia, Canada, and Mexico.

We seek Safe Harbor.

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