Mirasol Resources raises $3 million in private placement

Mirasol Resources Ltd. (TSX-V: MRZ) (OTC: MRZLF) completed a non-brokered private placement financing, issuing 6,689,445 units at $0.45 per unit for gross proceeds of $3,010,250.25.

Each unit consists of one common share and one-half warrant, with each whole warrant allowing the purchase of an additional common share at $0.60 for 12 months from closing. The company will use proceeds to advance exploration programs and for general corporate purposes.

Two directors and one officer purchased 3,350,556 units under the offering, constituting a related party transaction under Multilateral Instrument 61-101. The transaction was exempt from valuation and minority shareholder approval requirements as the company's shares are not listed on a specified market and the fair market value of securities issued to each related party did not exceed 25% of the company's market capitalization.

The securities are subject to a four-month hold period. Finders' fees of $13,932 were paid on a portion of the offering.

Mirasol operates exploration projects in Chile and Argentina, currently self-funding exploration at the Sobek Copper-Gold Project in northeast Chile's Vicuña Copper-Gold-Silver District.

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