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Maya Gold & Silver Inc.: Private Placement
MONTREAL, QUEBEC–(Marketwire – July 11, 2008) – Maya Gold & Silver Inc. (TSX VENTURE:MYA – News; “Maya”) is pleased to announce that it intends to complete a non-brokered private placement of 1,000,000 units at a price of $0.25 per unit for gross proceeds of $250,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional common share at a price of $0.35 for a period of 12 months from the closing of the private placement.
The closing of this private placement is subject to the approval of the regulatory authorities.
Maya is a new exploration mining company focused on the exploration for gold and silver on the Baluarte project located in Mexico.
Maya Gold & Silver Inc.
President and Chief Executive Officer