Azteca Gold Corp. Updates Two Mile Project Drilling and Announces $1.25m Financing

Matthew Russell, President of Azteca Gold Corp. announces that the Company is undertaking a non-brokered private placement of CAD $1,250,000, subject to regulatory approval. 25,000,000 units will be issued at CAD $0.05 per unit. Each unit consists of one common share and one half of a warrant. Each whole warrant entitles the holder to subscribe for an additional common share for CAD $0.25 for a period of 2 years from closing. Management expects to participate in this placement in an amount of up to CAD $500,000.

The funds will be used for drilling and assaying expenses at the Company's 50% owned Two Mile Project, as well as for general corporate purposes. read more

Source: Azteca Gold Corp.