Maya Gold & Silver Announces Closing of Over-Subscribed Non-Brokered Private Placement – $28.3M Raised at $3.30 a 32% Premium

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MONTREAL, April 16, 2018 (GLOBE NEWSWIRE) -- (TSXV:MYA) is pleased to announce that, further to its press release of April 11, 2018, due to high demand, it has successfully completed an over-subscribed, non-brokered private placement (the “Private Placement”) of CAD$28,397,000 through the issuance of 8,605,152 common shares, at a price of $3.30 per common share. The common share price represents a 32% premium to the closing price of the Corporation's common shares on April 10, 2018.

“We are extremely pleased with the high level of investor interest and confidence in our team’s ability to show strong results and advance Maya’s portfolio. With this financing now in place, we look forward to creating long-term shareholder value by continuing the development at our Zgounder Silver property,” said Noureddine Mokaddem, President and CEO of Maya Gold & Silver.

The shares to be issued will be subject to an agreed upon contractual 24-month hold period.  No warrants were issued and Maya did not pay any commissions or finder’s fee in connection with the private placement.

The net proceeds of the private placement will be used to continue the development and expansion of the Zgounder Silver mine; Maya plans to begin building its second mine at Zgounder which incorporates new infrastructure including preparation for an open pit as well as building a new processing plant that will increase production capacity to 2,000 tpd by 2021.

Maya Gold & Silver Inc.: Noureddine MokaddemPresident & CEO+1 514-978-6111/+212 661-196-111


Maya Gold & Silver Inc.: Sophy Cesar Investor Relations 514-866-2008  

More news and information about Maya Or & Argent inc.

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Globe Newswire: 14:19 GMT Monday 16th April 2018

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