VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - Guerrero Exploration Inc. ("Guerrero" or the "Corporation") (TSX VENTURE:GEX) announces that it has closed its previously announced financing by issuing a total of 9,650,000 Units ("Units") at $0.05 each, for total gross proceeds of $482,500.
Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for 12 months from closing at an exercise price of $0.10 per common share, subject to acceleration in the event the Corporation disseminates a press release advising that its shares have traded on the TSX Venture Exchange at a price per share greater than $0.30 for 10 consecutive trading days (including days where no shares are actually traded), in which case the warrants shall expire, without further notice, on the 31st day following the issuance of the press release. Notwithstanding the foregoing, in no event shall the Corporation be entitled to issue such a press release within four months of the date of closing.
The securities are subject to a statutory hold period ending January 15, 2013. The Corporation plans to use the proceeds from this financing for general working capital and exploration.
About Guerrero Exploration Inc.
Guerrero is committed to a long term business strategy designed to achieve optimal levels of profitability and shareholder value. Guerrero is a Canadian based exploration mining company with a focus on the high yielding Mexican copper, gold and silver mining area known as the Southern Mexican Gold Belt and the Sierra Madre Occidental Belt. The Corporation's common shares trade on the TSX Venture Exchange under the symbol "GEX". For more information, please visit www.grxpl.com or contact investor relations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.