Maestro Announces $1,500,000 Brokered Private Placement
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February 15th, 2010 MAP-TSX.V
NEWS RELEASE
Maestro Announces $1,500,000 Brokered Private Placement
Maestro Ventures Ltd. (TSX.V: MAP) (“Maestro”, or the “Company”) is pleased to announce that it has negotiated a brokered private placement with Portfolio Strategies Securities Inc. (the “Agent”) of 10,000,000 units (the “Units”) at a price of $0.15 per Unit to raise gross proceeds of up to $1,500,000. Each Unit will consist of one common share and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to subscribe for one additional common share at a price of $0.20 for the first 12 months from the date of closing and at a price of $0.25 for the second 12 month period.
The Company will pay the Agent a commission of 8.0% of the gross proceeds in cash on closing. In addition, the Company will issue to the Agent an aggregate number of warrants (the "Agent's Warrants") of the Company equal to 8% of the number of Units sold under the financing. Each Agent's Warrant will entitle the holder thereof to acquire Units under the same terms and conditions of the financing, for a period of 24 months from the closing date.
The net proceeds raised from the financing will be used to fund exploration at its existing projects, for potential project and area play acquisitions, and for general working capital purposes. Completion of the private placement is subject to the approval of the TSX Venture Exchange.
On behalf of the Board of Directors,
Kris Kottmeier
Kris Kottmeier Chief Executive Officer Maestro Ventures Ltd.
For further information, please contact:
Benjamin H. Curry Head of Investor Relations 1-877-689-2881
Visit our Web site: www.maestroventures.com.
Neither 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.
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