TORONTO, Sept. 10 /CNW/ - Mario Hernandez, through his wholly-owned
holding company, Minera Chanar Blanco Limitada ("Minera"), announced that he
has purchased for cash 10,000,000 units of South American Gold and Copper
Company Limited (the "Company") at a price of CDN$0.05 per unit (the "Unit"),
by way of a non-brokered private placement transaction that closed on
September 9, 2008. Each Unit is comprised of one common share of the Company
(a "Common Share") and one-half of one Common Share purchase warrant, (each
whole common share purchase warrant a "Warrant"). Taking into account the
closing of the private placement transaction, the Company now has 728,528,714
common shares issued and outstanding. The 10,000,000 Common Shares acquired by
Mario Hernandez through Minera from this private placement transaction
represents 1.37% of such outstanding shares. Mr. Hernandez purchased such
Units for investment purposes and may in the future increase or decrease his
ownership of securities of the Company from time to time depending upon the
business and prospects of the Company and future market conditions.
Mr. Hernandez is a director of the Company. Mr. Hernandez's address is
Los Carrera 380, Of 425, La Serena, Chile.
Mr. Hernandez now owns and controls a total of 77,567,196 Common Shares
representing 10.6% of the issued and outstanding common shares of the Company.
Including the Warrants acquired in the private placement, Mr. Hernandez holds
or controls common share purchase warrants to purchase an aggregate of
41,510,000 common shares of the Company at prices ranging from CDN$0.06 to
CDN$0.07 per share and stock options to purchase an aggregate of 9,000,000
common shares of the Company.
For further information:
For further information: Mario Hernandez, Phone: (56-2) 264-2295, Fax: