VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2011) - Guerrero Exploration Inc. (TSX VENTURE:GEX) ("Guerrero" or the "Corporation") announces that it has amended the terms of its previously announced (May 4, 2011) financing such that it will now undertake a non-brokered private placement of up to $500,000 through the sale of 2,500,000 units ("Units") at $0.20 each.
Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for 18 months from closing at an exercise price of $0.30 per common share, subject to acceleration of the expiry date at the Corporation's option if the shares of the Corporation trade at $0.60 for 10 consecutive days.
The Corporation plans to use the proceeds from these financings 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.