La Quinta increases and ammends proposed financing
La Quinta Resources Corporation is pleased to announce that it has increased a non-brokered private placement from $900,000 to $1,200,000 for sale to qualified investors. The unit price has been decreased to 0.25 per unit from 0.30 per unit.
Each unit will consist of one share and warrant. Each full warrant will, in turn entitle the holder to purchase an additional share common share in the Company at a price of 0.40 and 0.60 per share for a period of 12 or 24 months from the enclosing of the offering. Subject to certain acceleration clause.
A finder’s fee of up to 8% of the proceeds may be paid to qualified finders upon issuance. Eight percent finder’s warrants will also be granted to accredited brokers or financial institutions at an exercise price of 0.45 per share; exercisable up to 12 months from the date of closure of the placement..
The Company will use the funds for exploration expenditures in the Democratic Republic of Congo plus General Working Capital.
La Quinta Resources is a junior exploration listed on the TSXV under the symbol LAQ. The company’s aim is to add shareholder value by growing its resources base through both explorations of its two high quality DRC projects. The Company is led by a highly skilled, experienced Board and management team with significant successes in finding and developing early stage gold and base metals.
ON BEHALF OF THE BOARD
Malcolm JA Swallow
Chairman and CEO
For further information
La Quinta Resources Corp.: Glen Watson, Senior Vice President and Director of Corporate Development, (604) 685-1818 x101, Toll Free: 1-877-891-4653, email@example.com, www.laquintaresources.com
Renmark Financial Communications Inc.: Maurice Dagenais: firstname.lastname@example.org Christine Stewart: email@example.com
Media – Vanessa Napoli: firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com
Source: La Quinta Resource Corp.