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Thursday, April 10, 2008
Silvermex Resources Ltd. Closes Financing Of $2,906,000
TSX-V:SMR

Silvermex Resources Ltd. (the "Company") announces that further to its news release dated February 26, 2008, it has closed its brokered private placement of 2,411,000 units (the "Units") at a price of $1.00 per Unit for gross proceeds of $2,411,000 and its non-brokered private placement of 495,000 Units for gross proceeds of $495,000. Each Unit consists of one common share and one-half share purchase warrant. Each whole warrant (a "Warrant") will entitle the holder to purchase an additional common share for a period of 12 months from closing at a price of $1.25 per share. The brokered private placement was arranged through Versant Partners Inc. as lead agent and included Canaccord Capital Corporation, with selling group members that included Raymond James Ltd., Bolder Investment Partners, Ltd. and First Canada Capital Partners Inc. (collectively, the "Agents").

The Agents' compensation consisted of a cash commission of 8% of the gross proceeds of the brokered private placement. The Agents were also issued compensation options exercisable to acquire that number of Units equal to 8% of the number of Units sold pursuant to the brokered private placement for a period of 12 months following closing at a price of $1.00 per Unit. In addition, the lead agent received a corporate finance fee of $25,000.

The Company paid cash finders' fees totaling $19,200 in respect of the non-brokered private placement.

The common shares and Warrants comprising the Units are subject to a hold period expiring August 5, 2008, as are any common shares issued on exercise of the Warrants (if exercised prior to the expiry of such hold period). The brokered and non-brokered private placement are subject to final TSX Venture Exchange approval.

The proceeds of the private placement are intended to be used to fund work programs on the Company's Penasco Quemado, San Marcial, Lobos, El Rayo and Lety properties in Mexico and for general working capital purposes.

On Behalf of the Board of Directors of
Silvermex Resources Ltd.
 
aus der Diskussion: Silvermex: Silverstar in Mexico
Autor (Datum des Eintrages): hoschmi  (11.04.08 08:19:18)
Beitrag: 13 von 101 (ID:33863066)
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