By Sheri Kasprzak
New York, Feb. 23 - Buck Lake Ventures Ltd. said it intends to raise C$1.7 million in a private placement.
The company will sell up to 7,555,555 post-consolidation units at C$0.225 each on a non-brokered basis.
The units are comprised of one share and one warrant. The warrants allow for the purchase of one post-consolidation flow-through share at C$0.30 each for two years.
Proceeds will be used for exploration, working capital, property payments, debt payments, acquisitions and general corporate purposes.
Based in Vancouver, B.C., Buck Lake is a mineral exploration company.
| Issuer: | Buck Lake Ventures Ltd.
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| Issue: | Units of one flow-through share and one warrant
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| Amount: | C$1.7 million (maximum)
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| Units: | 7,555,555 (maximum)
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| Price: | C$0.225
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.30
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| Placement agent: | Non-brokered
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| Pricing date: | Feb. 23
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| Stock symbol: | TSX Venture: BUC
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| Stock price: | C$0.07 at close Feb. 23
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