SAMEX Mining Corp SXG:CA announced a private placement of approximately 17,000,000 units comprised of one common share and one share purchase warrant at $0.50 per. The proceeds of the private placement will be used for exploration on SAMEX’s gold-silver-copper projects in Chile and for general working capital.
President Jeff Dahl commented, “We’re pleased to raise this substantial funding which will allow us to not only expand, but accelerate our exploration efforts in general and in particular, at our projects within the Los Zorros district where we have just commenced drilling. We believe that the decade long bull market in precious metals may be entering an accelerating up-phase which should encourage the markets to more fully recognize the value and opportunity that exploration companies represent.”
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by Ted Niles