Azteca Gold Announces $2.5 Million Private Placement, Exercise of Warrants, Resignation Of Director

Azteca Gold Corp. has announed a non-brokered private placement, consisting of 12.5 million units at 20 cents each, for gross proceeds of $2.5 million. Unlike the typical unit, this one contains a share and a full warrant, which will be good for two years after the close. The exercise price for these warrants will be 35 cents. This deal is subject to regulatory approval. The funds are slated for drilling/assaying expenditures for Azteca's Two Mile Creek, and for general corporate purposes. The news release also announces that the earlier reduction in the exercise price of an earlier warrant issue garnered $658,687.50 from exercises in the amount of 4,391,250 shares. It also notes that Ed Schiller has resigned for personal reasons, and adds a brief thanks for his services.

Azteca is currently up a cent in relatively light trading. As of the time of this post, it last traded at 15 cents - the same price as the current ask.

The company's Google Finance web page is here.

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