By Devika Patel
Knoxville, Tenn., Feb. 20 - Mountain Lake Resources Inc. said it plans to conduct a C$1.2 million private placement of units.
The company will sell 2 million units of one share and one half-share warrant at C$0.60 per unit. Each whole warrant will be exercisable at C$0.75 for two years.
Scarsdale Equities, LLC is the agent.
Proceeds will be used for exploration, development and general working capital.
Based in Vancouver, B.C., Mountain Lake is a diversified junior mining and exploration company.
| Issuer: | Mountain Lake Resources Inc.
|
| Issue: | Units of one share and a half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 2 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Scarsdale Equities, LLC
|
| Pricing date: | Feb. 20
|
| Stock symbol: | TSX Venture: MOA
|
| Stock price: | C$0.56 at close Feb. 19
|
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