NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Montreal, Québec – April 11, 2018 – Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSXV: MYA) is pleased to announce that it intends to complete a non-brokered private placement of CAD$25,000,000 through the issuance of 7,575,757 common shares, at a price of $3.30 per common share. The private placement is expected to close on April 13, 2018. The shares to be issued at closing will be subject to an agreed upon contractual 24-month hold period. No warrants will be issued and Maya will not pay any commissions or finder’s fee in connection with the private placement.
The net proceeds of the private placement will be used to continue the development and expansion of the Zgounder Silver mine; Maya plans to begin building its second mine at Zgounder which incorporates new infrastructure including preparation for an open pit as well as building a new processing plant that will increase production capacity to 2,000 tpd by 2021.
“We have priced this private placement at a premium based on feedback received from our PEA, previously announced in January 2018. We are extremely fortunate to have investors that share our vision and appreciate the quality of Maya’s portfolio,” said Noureddine Mokaddem, President and CEO of Maya Gold & Silver.
Completion of the private placement remains subject to approval of the TSX Venture Exchange.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended).
Maya Gold & Silver Inc. is a Canadian publicly listed mining corporation focused on the exploration and development of gold and silver deposits in Morocco. Maya is initiating mining and milling operations at its Zgounder Mine owned by Zgounder Millenium Silver Mining, a Maya 85% owned joint venture with l’Office National des Hydrocarbures et des Mines of the Kingdom of Morocco (15%).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements about future events or future performance and reflects management’s current expectations and assumptions. These are “forward-looking” because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, and believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in the Corporation’s filings with SEDAR.
Founder, President & CEO
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