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Amazon Mining Closes Cdn$4.5 Million Private Placement Financing

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9 years ago

Amazon Mining Holding Plc (TSX VENTURE:AMZ) (“Amazon” or the “Company”) is pleased to announce that it has completed its previously announced “best efforts” private placement financing with Ocean Equities Ltd. (“Ocean”) pursuant to which 1,080,000 ordinary shares of the Company were sold at a price of $4.17 per share for gross proceeds of $4,503,600.
Amazon paid to Ocean a commission of $270,216, being 6.0% of the gross proceeds of the private placement, and has issued 64,800 broker’s warrants to Ocean, entitling Ocean to acquire 64,800 shares of the Company, being 6% of the number of shares issued pursuant to the private placement. The broker warrants are exercisable up to 5:00 p.m. on December 30, 2012 at an exercise price of $4.17 per share.
The net proceeds of the private placement will be applied to the general working capital of the Company and the development of its Cerrado Verde potash project.
All securities issued in connection with this private placement will be subject to a statutory hold expiring on May 1, 2011 in accordance with Canadian securities legislation.
About Amazon Mining
Amazon Mining is a mineral exploration and development company founded and led by Brazilians since 2005. The company is focused on the development of the Cerrado Verde project. Cerrado Verde is source of a potash rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product. Amazon Mining is a UK public company with shares listed on the TSX Venture Exchange since November 2007.
On behalf of the Board of Directors of Amazon Mining Holding Plc, Cristiano Veloso, President and CEO.
Cautionary Language and Forward Looking Statements
THIS PRESS RELEASE CONTAINS CERTAIN “FORWARD LOOKING STATEMENTS”, WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS REGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION EXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR ADDITIONAL CAPITAL, GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL RISKS, RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS “PLANS”, “EXPECTS”, OR “DOES NOT EXPECT” OR “IS EXPECTED”, “ANTICIPATES” OR “DOES NOT ANTICIPATE”, OR “BELIEVES”, “INTENDS”, “FORECASTS”, “BUDGET”, “SCHEDULED”, “ESTIMATES” OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS “MAY”, “COULD”, “WOULD”, “MIGHT”, OR “WILL BE TAKEN”, “OCCUR” OR “BE ACHIEVED”. FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.
Readers are cautioned not to rely solely on the summary of such information contained in this release and are directed to the complete set of drill results posted on Amazon’s website (www.amazonplc.com) and any future amendments to such. Readers are also directed to the cautionary notices and disclaimers contained herein.

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