Salazar Resources Ltd. (SRLZF)

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SALAZAR PROVIDES UPDATE ON CURIPAMBA AGREEMENT
VANCOUVER, BRITISH COLUMBIA, October 27th, 2014 - Salazar Resources Ltd. (TSX.V:SRL; FSE: CCG) (the “Company”) provides an update on the letter-of-intent (“LOI”) with Guangshou Group Co. Ltd. (“Guangshou”), a privately-held Chinese international mining conglomerate, for a joint venture to develop the Curipamba Project.
Pursuant to the LOI the Company has been working to complete a private placement financing of 4,545,455 units (a “Unit”), at a price of $0.22 per Unit, for gross proceeds of $1,000,000. Each Unit consists of one common share (a “Share”) of the Company and one-half of one share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase an additional Share of the Company for a period of 18 months from the closing date at a price of $0.35 per Share. The Company has received initial funding of $500,000 and has issued 2,272,727 Units. Completion of the remaining $500,000 of the $1,000,000 private placement remains a condition precedent to moving to the Definitive Agreement. A finder’s fee of 6% of gross proceeds is payable in cash to Scarsdale Equities LLC.
http://www.salazarresources.com/docs/2014/2014-10-27_SRL.pdf