Nov 20 2010
Del Toro Silver Corp. (OTCBB:DTOR) has announced they have closed the first tranche of a non-brokered private placement in the Company at a price of $0.10 per Unit.
The first tranche is 1,713,200 Units for gross proceeds of $171,320 (all funds expressed in USD). Each Unit consists of one common share and one share purchase warrant entitling the warrant holder to purchase an additional common share at a price of $0.25 for a period of two years from the closing of the private placement. The shares forming part of the Units and the shares acquired on exercise of the warrants are subject to restrictions by regulatory authorities.
Proceeds of the private placement will be applied to the Company's ongoing work program on their Dos Naciones project, continued exploration for new projects and general working capital.
Source: Del Toro Silver Corp.