Additional funds are now in hand for continued exploration of La Fortuna, a gold-copper property in Mexico’s Durango state. Owner San Fernando Mining (VSE) has completed a private placement of 1.9 million special warrants at $5.50 each.
Half the proceeds have been received by the company and the balance is in escrow pending final receipt of a prospectus qualifying the exchange of the special warrants for units.
Each unit includes one share and one share purchase warrant, two of which enable the holder to buy an additional share at $7 until Dec. 22, 1996.
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