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Latin American Minerals shares rise as it raises C$1.05mln in first tranche financing

Each unit consists of one company share and one purchase warrant, the group said
Latin American Minerals shares rise as it raises  C$1.05mln in first tranche financing
The company closed the first tranche of the placing, raising around C$1.053mln, for working capital.

Paraguay-focused Latin American Minerals Inc (CVE:LAT) has closed the first tranche of its placing, raising around C$1.053mln, for working capital.

The company has issued over 14mln units at 7.5 cents a pop.

Each unit consists of one company share and one purchase warrant, each of which entitles the holder to buy one share for five years from closing, for a price of 10 cents each.

Shares were bolstered in early deals, rising over 13% to C$0.085.

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