By Devika Patel
Knoxville, Tenn., July 12 - Mountain Lake Resources Inc. said it completed a C$2.15 million private placement of units. The deal priced June 21 and was increased to C$2.15 million from C$1.75 million on June 23.
The company sold 4,309,500 units at C$0.50 per unit. Each unit consists of one common share and one half-share warrant. The whole warrants are exercisable at C$0.75 for two years.
Proceeds will be used to fund the company's exploration and development work and for general working capital purposes.
Based in Vancouver, B.C., Mountain Lake is a diversified junior mining and exploration company.
| Issuer: | Mountain Lake Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2,154,750
|
| Units: | 4,309,500
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Pricing date: | June 21
|
| Upsized: | June 23
|
| Stock symbol: | TSX Venture: MOA
|
| Stock price: | C$0.60 at close June 18
|
| Market capitalization: | C$17.78 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
