Para Resources is pleased to announce that it has received TSX Venture Exchange acceptance to the previously announced purchase of the shares of Colombia Milling owned by the other current shareholders of CML, Mr. Randall Martin and SAEF Exploration as follows: Share and Loan Purchase Agreement dated March 7, 2016, between the Para and Martin, whereby the Company will acquire 875 shares of CML and be assigned US$875,000 [...]
Para Resources is pleased to announce that its high-grade gold mine and mill at El Limon in Colombia has been operating since May 14th on a one shift per day basis while processes were optimized and second shift personnel were trained. The plant operated during the period of May 14th through June 13th at 22.4% of design capacity as a result. During that time there were two maintenance shut downs for a total of [...]
Para Resources is pleased to announce that its high-grade gold mine and mill at El Limon in Colombia has now been operating for two weeks and is producing gold. The senior management team and major shareholders attended the mine site near Zaragosa last week to witness operations. All systems were operational and the mine is processing material stockpiled during the re-construction phase. There is approximately 4,500 tons [...]
Para Resources is pleased to announce it has entered into a letter of intent by which Para would acquire, directly or through a Colombia company controlled by Para, an undivided 100% interest in all of the mineral concessions owned by Otu Gold consisting of approximately 17,000 hectares located in the Segovia Gold Belt of Northeast Colombia that are located North of 1300000 N including any mining concessions, registered [...]
Para Resources is pleased to announce that its high-grade gold mine and mill at El Limon in Colombia has completed recommissioning after a $2.5 million USD refurbishment. Each of the components in the processing cycle were tested on a standalone basis during the commissioning phase and are now running in series, together. The commissioning phase started on April 18th with the floatation and cyanide circuits processing [...]
Para Resources is pleased to announce the results of channel sample assays from the development mining faces in the underground and from the historical tailing from the El Limon Mine. The following tables and charts illustrated the results of 75 samples assayed in Activation Laboratories Ltd. - ACTLABS. The samples were taken perpendicularly to a double vein (superior and inferior) sigmoidal loop structure and to its [...]
Para Resources Inc. (TSX Venture: PBR) ("Para" or the "Company"): This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report regarding the acquisition of securities of the Company by Conex Services Inc. Conex Services, a company wholly-owned and controlled by [...]
Para Resources reports that it has closed the private placement financing originally announced by the Company for $400,000 on March 4th, 2016 and increased to $600,000 on March 8th for gross proceeds of $765,400 through the issuance of 6,378,332 Units at a price of $0.12 per Unit, Each "Unit" is comprised of one common share of the Company and one half common share purchase warrant (each whole such warrant a "Warrant [...]
Para Resources is pleased to announce that due to significant demand it is increasing the non-brokered private placement previously announced on March 4th 2016, by $200,000 to raise gross proceeds of up to $600,000 through the issuance of up to 5,000,000 Units at a price of $0.12 per Unit. Each "Unit" will be comprised of one common share of the Company and one half of a common share purchase warrant. Each whole common [...]
Para Resources is pleased to announce a non-brokered private placement to raise gross proceeds of up to $400,000 through the issuance of up to 3,333,333 Units at a price of $0.12 per Unit. Each "Unit" will be comprised of one common share of the Company and one half of a common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one additional common share for a period of [...]
Para Resources announces that it has closed the second tranche of its non-brokered private placement of units of the Company at a price of $0.12 per Unit for gross proceeds of $2,991,600. The Company has raised a total of $3,545,600 under the Private Placement, including the first tranche closing announced December 11, 2015.
Para Resources reports that it has closed the first tranche of the $4 million private placement financing announced by the company on October 14, 2015 for gross proceeds of $554,400 through the issuance of 4,619,999 Units. Each "Unit" was issued at a price of $0.12, and was comprised of one common share of the Company and one half common share purchase warrant (each whole such warrant a "Warrant"). Each Warrant entitles [...]
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