GUERRERO AMENDS TERMS OF $1,500,000 BROKERED PRIVATE PLACEMENT, EURO
PACIFIC CANADA ACTS AS AGENT
Guerrero Exploration Inc.
("Guerrero" or the "Company") (TSX-V: "GEX")
announces that the Company has amended the terms the previously announced
private placement being brokered by Euro Pacific Canada Inc. (�the
Agent�). Subject to regulatory approval, the placement now consists of up
to 12,000,000 Units at $0.125 per Unit for total gross proceeds of
$1,500,000. Each Unit will consist of one common share and one-half of a
common share purchase warrant (a "Warrant"). In addition, the
Company will grant the Agent an option to sell up to 15% additional Units under
the same terms to raise additional gross proceeds of $225,000. Each whole
Warrant will entitle the holder to purchase one common share at $0.25 for a
period of 12 months from the date of closing.
The Units issued in
connection with the private placement will be subject to a four month hold
period from the date of closing. The Company intends to use the net
proceeds of the Offering to fund the advancement of the Company's properties in
Mexico and for general corporate purposes.
Guerrero attended the
recent Guerrero Gold Belt conference in Toronto hosted by the Agent, who has
extensive knowledge of the Guerrero Gold Belt and has been involved in recent
syndicate financings of companies with properties on the Belt.
About
Euro Pacific Canada Inc.
Euro Pacific Canada is an
IIROC registered brokerage headquartered in Toronto, Ontario specializing in
foreign markets, precious and strategic metals investing. The firm offers
an integrated platform of investment banking, institutional sales and trading,
research, and private client services following the advice laid out by Euro
Pacific Capital�s Chief Global Strategist, Peter Schiff, an internationally
recognized economist and market strategist. Additional information is
available at www.europac.ca or by contacting:
Russell Starr
Head of Institutional
Equities
416-649-4272
russell.starr@europac.ca
About Guerrero Exploration Inc.
Guerrero Exploration Inc.
is a Canadian based mineral exploration company with a focus on Mexican Gold,
Copper and Silver mining areas known as the Guerrero Gold Belt, Southern
Mexican Gold Belt and the Sierra Madre Occidental Belt. The Corporation�s
common shares trade on the TSX Venture Exchange under the symbol (GEX) and the
Frankfurt Stock Exchange under the symbol (2GU). For further information
please visit www.grxpl.com or contact investor relations.
�David Stadnyk�
President and CEO
Guerrero Exploration
Inc.
Direct: (604) 685-0088
Ext. 229
Corporate
Communications: (604) 685-0088 Ext. 226
Email inquiries: info@grxpl.com
For more information on
Guerrero Exploration Inc. , please visit our website
at www.grxpl.com
Advisory
Certain
statements and information contained in this press release, including but not
limited to management�s assessment of Guerrero�s future plans and operations,
geological results and proposed exploration plans contain forward-looking
statements. In particular, this press release contains statements concerning
the anticipated receipt of government claims approval. All statements other
than statements of historical fact may be forward looking statements. These
statements, by their nature, are subject to numerous risks and uncertainties,
some of which are beyond Guerrero�s control including the effect of general
economic conditions, industry conditions, changes in regulatory and taxation
regimes, government approvals, volatility of commodity prices, escalation of
operating and capital costs, currency fluctuations, the availability of
services, imprecision of reserve estimates, geological, technical, drilling and
processing risks, environmental risks, weather, the lack of availability of
qualified personnel or management, stock market volatility, the ability to
access sufficient capital from internal and external sources and competition from
other industry participants for, among other things, capital, services,
acquisitions of reserves, undeveloped lands and skilled personnel that may
cause actual results or events to differ materially from those anticipated in
the forward looking statements. Such forward-looking statements,
although considered reasonable by management at the time of preparation, may
prove to be incorrect and actual results may differ materially from those
anticipated in the statements made and should not unduly be relied on. These
statements speak only as of the date of this press release. Guerrero does not
intend and does not assume any obligation to update these forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required by applicable law. Guerrero�s business is subject to various
risks that are discussed in its filings on the System for Electronic Document
Analysis and Retrieval (SEDAR).
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.