(MENAFN- Baystreet) 11:27 AM EST - Magma Silver Corp : Announces a non-brokered private placement consisting of up to 26,666,667 units of the Company at a price of $0.15 per Unit for aggregate gross proceeds of up to $4,000,000. Each Unit will be comprised of one common share of the Company and one-half of one Common Share purchase warrant. Each Warrant shall be exercisable to acquire one Common Share at an exercise price of $0.25 per Common Share for a period of 36 months following the closing of the Offering. The Company intends to use the net proceeds from the Offering for exploration at the Niñobamba silver gold project in Peru, working capital and general corporate purposes. Magma Silver Corp shares V are trading up $0.02 at $0.19.

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