Val d’Or, Que.-based
The company bought the remaining two-thirds interest from Mexican partner Seville Mineral Developments for US$75,000, 1 million shares and 500,000 warrants.
To fund the purchase, Xemac raised $165,000 in a private placement consisting of 1.1 million units. Each unit represents one 15 cents share and a warrant to buy another at 20 cents until May 2001.
La Turquesa is situated in Xemac’s El Arenoso concession, which the company acquired earlier this year.
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