SMR Shine Minerals Corporation

Silvermex Resources Ltd. (the "Company") (TSX VENTURE:SMR) announces that
further to its news release dated December 24, 2008, it has closed its brokered
private placement of 15,000,000 units (the "Units") at a price of $0.10 per unit
for gross proceeds of $1,500,000. Each Unit consists of one common share and
one-half of one share purchase warrant. Each whole warrant (a "Warrant") will
entitle the holder to purchase an additional common share for a period of 18
months from closing at a price of $0.15 per share. The brokered private
placement was arranged through Canaccord Capital Corporation (the "Agent").


The Agent's compensation consisted of a cash commission of 9% of the gross
proceeds of the brokered private placement. The Agents were also issued 100,000
corporate finance units (the "Corporate Finance Units") the terms of which are
the same as the Units and a compensation option exercisable to acquire that
number of units ("Agent's Units") equal to 9% of the number of Units sold
pursuant to the brokered private placement. The terms of the Agent's Units are
the same as the terms of the Units. In addition, the agent received a corporate
finance fee of $25,000 and a work fee of $5,000.


The common shares and Warrants comprising the Units, the Corporate Finance Units
and the Agent's Units are subject to a hold period expiring June 1, 2009, as are
any common shares issued on exercise of the Warrants (if exercised prior to the
expiry of such hold period).


The proceeds of the private placement are intended to be used to fund work
programs on the Company's San Marcial Property in Mexico and for general working
capital purposes.


On Behalf of the Board of Directors of Silvermex Resources Ltd.

Bruce Bragagnolo, CEO & Director

This News Release contains forward-looking statements. Forward looking
statements are statements which relate to future events. In some cases, you can
identify forward-looking statements by terminology such as "may", "should",
"expects", "plans", "anticipates", believes", "estimates", "predicts",
"potential", or "continue or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown
risks, uncertainties and other factors that may cause our or our industry's
actual results, level of activity, performance or achievements to be materially
different from any future results, levels of activity, performance, or
achievements expressed or implied by these forward-looking statements.


While these forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect out current judgment regarding the
direction of our business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections, assumptions or other
future performance suggests herein. Except as required by applicable law the
Company does not intend to update any forward-looking statements to conform
these statements to actual results.

Shine Minerals (TSXV:SMR)
Historical Stock Chart
From Dec 2024 to Jan 2025

Shine Minerals (TSXV:SMR)
Historical Stock Chart
From Jan 2024 to Jan 2025