VANCOUVER, July 28 /CNW Telbec/ - La Quinta Resources Corporation (TSXV:
LAQ) is pleased to announce that it has increased a non-brokered private
placement from $900,000 to $1,200,000 for sale to qualified investors. The
unit price has been decreased to 0.25 per unit from 0.30 per unit.
Each unit will consist of one share and warrant. Each full warrant will,
in turn entitle the holder to purchase an additional share common share in the
Company at a price of 0.40 and 0.60 per share for a period of 12 or 24 months
from the enclosing of the offering. Subject to certain acceleration clause.
A finder's fee of up to 8% of the proceeds may be paid to qualified
finders upon issuance. Eight percent finder's warrants will also be granted to
accredited brokers or financial institutions at an exercise price of 0.45 per
share; exercisable up to 12 months from the date of closure of the placement..
The Company will use the funds for exploration expenditures in the
Democratic Republic of Congo plus General Working Capital.
La Quinta Resources is a junior exploration listed on the TSXV under the
symbol LAQ. The company's aim is to add shareholder value by growing its
resources base through both explorations of its two high quality DRC projects.
The Company is led by a highly skilled, experienced Board and management team
with significant successes in finding and developing early stage gold and base
ON BEHALF OF THE BOARD
Malcolm JA Swallow
Chairman and CEO
The TSX Venture Exchange has not reviewed and does not except any
responsibility for the accuracy or adequacy of this news release, which
has been prepared by management.
For further information:
For further information: La Quinta Resources Corp.: Glen Watson, Senior
Vice President and Director of Corporate Development, (604) 685-1818 x101,
Toll Free: 1-877-891-4653, email@example.com,
www.laquintaresources.com; Renmark Financial Communications Inc.: Maurice
Dagenais: firstname.lastname@example.org; Christine Stewart:
email@example.com; Media - Vanessa Napoli:
firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717,