TORONTO, Sept. 15 /CNW/ - Zaruma Resources Inc., (TSX-ZMR), (the "Company") today announced that it has completed a private placement with a director of the Company of Cdn.$100,000 in the form of a 10% unsecured debenture with a term of one year and convertible at Cdn.$0.05 per share. The proceeds will be used for working capital purposes and specifically to safeguard the mining assets at San Antonio, Sonora, Mexico where the Company's Luz de Cobre Copper Project and the Sapuchi Gold Project are located.
The Company continues to discuss with interested parties the financing required to put either of the Projects into production, but has not yet reached the stage of negotiating terms and conditions of any proposed financing.
Zaruma Resources Inc. is a pre-production stage company listed on The Toronto and Frankfurt Stock Exchanges (symbol: ZMR). Common shares currently outstanding: 117,608,747.
SOURCE ZARUMA RESOURCES INC.
For further information: For further information: Zaruma Resources Inc., 20 Toronto Street, 12th Floor, Toronto ON, M5C 2B8, Canada, Fax: (416) 367-3638, email@example.com, www.zaruma.com; Dr. Thomas Utter, President and CEO, Tel: +1 521 662 210 5650, firstname.lastname@example.org; Frank van de Water, CFO and Secretary, Tel.: (416) 869-0772, email@example.com