|By Marketwired .||
|February 6, 2013 01:17 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 02/06/13 -- Latin American Minerals Inc. (TSX VENTURE:LAT)(OTCQX:LATNF) (the "Company") has completed a non-brokered private placement financing for gross proceeds of $500,000. The funds received from the private placement will be used to complete detailed geophysical exploration, and to upgrade the Company's pilot plant, at its Paso Yobai gold project in Paraguay.
Pursuant to the private placement, the Company issued a total of 5 million units at a price of 10 cents per unit. Each unit consists of one common share of the Company, along with one common share purchase warrant. Each whole warrant may be exercised for one additional common share at a price of 20 cents per common share until February 4, 2015. No commissions or finders' fees were paid in connection with the private placement. The units were issued pursuant to exemptions from prospectus requirements of applicable securities legislation. Securities issued pursuant to the private placement are subject to a hold period that expires on June 5, 2013 (four months and one day).
Certain insiders of the Company participated in the private placement. Subscriptions from such insiders are considered to be related-party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The Company relied on certain exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 in respect of such insider participation. Richard Boulay, the chairman of the Company, purchased 1.32 million units in the private placement. After giving effect to this private placement, Mr. Boulay owns or controls, directly or indirectly, a total of 5,455,682 common shares, representing approximately 5.8% per cent of the Company's 93,403,504 issued and outstanding common shares, together with options and warrants to acquire an additional 3,075,000 common shares. Dr. Waldo Perez, a director of the Company, purchased 200,000 units in the private placement. After giving effect to this private placement, Dr. Perez owns or controls, directly or indirectly, a total of 1,171,500 common shares, representing approximately 1.3% per cent of the Company's issued and outstanding common shares, together with options and warrants to acquire an additional 1,183,750 common shares. Paul Fornazzari, a director of the Company, purchased 100,000 units in the private placement. After giving effect to this private placement, Mr. Fornazzari owns or controls, directly or indirectly, a total of 731,666 common shares, representing approximately 0.8% per cent of the Company's issued and outstanding common shares, together with options and warrants to acquire an additional 1,739,749 common shares.
About the Paso Yobai Gold Project:
The Company is operating the Independencia Mine Pilot Plant on the Company's 99%-owned mining concession, part of the Company's larger Paso Yobai Gold Project. The objective of the pilot plant is to facilitate resource evaluation through bulk-sampling along the Discovery Trend, which is characterised by coarse gold mineralization extending from surface to greater than 100m depth. The proceeds of the bulk-sampling program also subsidise corporate administration, exploration and property expenses in Paraguay.
The Company's ongoing gold exploration work is now focused on the Company's 100%-owned exploration licences also located at Paso Yobai. These properties contain the 14.8 km X-Mile Trend, identified as a major axis of mineralization, and a selection of off-trend targets which may be related to sets of oblique structures. A high-resolution CSAMT geophysical survey program is underway over these target areas in order to develop drill targets below the surface gold showings.
About the Company:
Latin American Minerals Inc. is a Canadian mineral exploration company whose core Paso Yobai project includes the Company's Independencia Mine and satellite targets in a new large gold district.
The Company has identified Paraguay as a highly prospective region for mineral exploration, and continues to explore its multiple Paraguayan mineral claims for gold, diamonds, REE, niobium and phosphates.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
Dec. 1, 2015 04:15 AM EST
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
Dec. 1, 2015 03:30 AM EST Reads: 528
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Dec. 1, 2015 03:00 AM EST Reads: 467
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
Dec. 1, 2015 03:00 AM EST Reads: 102
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Dec. 1, 2015 03:00 AM EST Reads: 468
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Dec. 1, 2015 01:15 AM EST Reads: 119
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Dec. 1, 2015 01:00 AM EST Reads: 435
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company Logz.io. In the past, he was co-founder of social-trading platform Currensee, which...
Nov. 30, 2015 10:00 PM EST Reads: 285
Countless business models have spawned from the IaaS industry – resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his general session at 17th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, an IBM Company, broke down what we have to work with, discussed the benefits and pitfalls and how we can best use them ...
Nov. 30, 2015 03:45 PM EST Reads: 105
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 30, 2015 03:15 PM EST Reads: 247
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Nov. 30, 2015 03:00 PM EST Reads: 494
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 30, 2015 02:00 PM EST Reads: 371
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 30, 2015 01:45 PM EST Reads: 436
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Nov. 30, 2015 01:45 PM EST Reads: 438
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 30, 2015 01:00 PM EST Reads: 541