LRS Latin Res

TIDMLRS

RNS Number : 9694C

Latin Resources Limited

23 April 2013

23 April 2013

Share Placement

Latin Resources Limited (ASX: LRS) ("Latin" or "the Company") is pleased to announce it has received a commitment from its largest Shareholder, The Junefield Group (Junefield ), to invest a further $950,709 through the issue of 6,338,060 fully paid ordinary shares at an issue price of $0.15 per share (Placement).

The investment will lift Junefield's shareholding in Latin from 19.8% to 22.5% .The Junefield Group will also have the option of appointing an additional Director to the Board of Latin Resources Limited.

The Placement to Junefield at a 25% premium to the last trade is a sign of confidence in Latin's projects in Peru, South America.

The application will be finalised this week and shares issued pursuant to Section 708 of the Corporations Act.

The funds raised from the Placement will be used to progress the Company's projects in Peru and for working capital purposes.

For further information please contact:

 
 Australia                  United States 
 Chris Gale                 Allen & Caron 
  Managing Director          Rudy Barrio 
  Latin Resources Limited    +1 212 691 8087 
  +61 8 9485 0601 
 
  David Tasker 
  PPR 
  +61 8 9388 0944 
 

About Latin Resources

Latin Resources Limited (ASX: LRS, SETSQX: LRS) is a mineral exploration company focused on creating shareholder wealth through the identification and definition of mineral resources in Latin America, with a specific focus on Peru. The company has a portfolio of projects in Peru and is actively progressing the Guadalupito Iron and Heavy Mineral Sands Project and the Ilo Iron, Copper & Gold (IOCG) Projects.

This information is provided by RNS

The company news service from the London Stock Exchange

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