SMN Sun Summit Minerals Corp

San Marco Resources Inc. (TSX VENTURE:SMN) ("San Marco" or "the Company") has
completed its non-brokered private placement financing announced on March 11,
2014. A total of 8,000,000 units ("Units") were issued at $0.05 per Unit for
gross proceeds of $400,000. An insider of the Company acquired 2,760,000 of the
Units issued in this financing.


Each Unit consisted of one common share and one non-transferable warrant. Each
warrant is exercisable to purchase a further share for three years, at $0.05
within the first year or $0.10 within the second and third years. A finder's fee
of $16,590 cash was paid to Haywood Securities Inc., representing 7% of the
value of Units purchased by investors introduced by it. 


All common shares issued in connection with this financing, including common
shares issued on exercise of the warrants, are subject to a four month
restricted resale period expiring on August 24, 2014. The warrants expire on
April 24, 2017 and have an acceleration provision such that the expiry date can
be reduced to 30 calendar days after notice thereof if the closing price of the
Company's common shares equals or exceeds $0.20 for 15 consecutive trading days
after the expiry of the four-month restricted resale period.


The proceeds of the financing will be used for general working capital purposes,
project generation efforts, and exploration activities on the Company's Angeles,
La Buena and Los Carlos properties.


"We would like to take this opportunity to thank our shareholders, both new and
existing, for their support in this challenging market environment," states
Robert Willis, CEO of San Marco. "San Marco is working hard to build a portfolio
of exceptional exploration projects with low opportunity costs in
mining-friendly jurisdictions, and to this end intends to seek additional
acquisitions in proven mineral belts to build on the strength of its existing
projects." 


About San Marco

San Marco Resources Inc. is a Canadian mineral exploration company with a
current portfolio of three promising properties in mining-friendly Mexico and an
aggressive project generation program focused on high-calibre, low-opportunity
cost projects. The Company's Angeles, La Buena and Los Carlos properties are all
either drill ready or in preparation for drilling in the near future. San Marco
has a committed management team with extensive experience in Mexico and a proven
track record of building shareholder value.


Forward Looking Information

Information set forth in this document includes forward-looking statements, such
as: the anticipated use of funds raised in the financing; and, the intent to
acquire additional exploration projects. While these statements reflect
management's current plans, projections and intents, by their nature,
forward-looking statements are subject to numerous risks and uncertainties, some
of which are beyond the control of San Marco Resources Inc. Readers are
cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on these
forward-looking statements. San Marco's actual results, programs and financial
position could differ materially from those expressed in or implied by these
forward-looking statements.


Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
San Marco Resources Inc.
Robert D. Willis
CEO
604-568-5951 / 604-813-2606
rwillis@sanmarcocorp.com
www.sanmarcocorp.com

Sun Summit Minerals (TSXV:SMN)
Historical Stock Chart
From Mar 2024 to Apr 2024

Sun Summit Minerals (TSXV:SMN)
Historical Stock Chart
From Apr 2023 to Apr 2024