Blainville, Québec- September 18, 2014 – Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSXV: MYA) is pleased to announce that four shareholders have exercised an aggregate of 5,779,791 Warrants. The exercise price was $0.35 per share, pursuant to previous announced private placements of the Corporation closed in September and November 2012. The Corporation received total proceeds of $2,022,900 relating to the exercise of the Warrants.
“We are delighted to have the continued back up from supportive shareholders” said Guy Goulet, CEO of Maya. The proceeds from the exercise of the warrants will be allocated to Zgounder development and for working capital.
Maya Gold & Silver Inc. is a Canadian 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.
For further information on Maya, visit www.maya.dev.penega.com or contact:
Maya Gold & Silver Inc.:
Chief Executive Officer
T: 450-435-0700 ext. 204
T: 450-435-0700 ext. 202
Neither 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.
Forward looking information
Zgounder Silver Mine
The decision to commence production at the Zgounder Silver Mine was not based on a feasibility study of mineral reserves demonstrating economic and technical viability, but rather on a pre-feasibility study. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with this production decision. Production and economic variables may vary considerably, due to the absence of a complete and detailed site analysis according to and in accordance with NI 43-101.
This news release contains statements about our future business and planned activities. These are “forward-looking” because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. 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.