Conquistador Mines (CMG-V) has closed a private placement with Haywood Securities consisting of 2 million units at 75 cents each, for gross proceeds of $1.5 million.
Each unit consists of one share and one warrant entitling the owner to buy a further share at 75 cents for a period of one year.
The junior is exploring and developing gold projects in Colombia, including the Marmato property, where recent drilling returned 40 metres grading 1.3 grams gold per tonne; 52 metres of 3.1 grams; and 16 metres of 8.49 grams.
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