Houston Lake Mining Inc. (TSXV:HLM), a mining exploration company that focuses on tantalum and other rare metals, has announced that it has closed two non-brokered private placement offerings totaling 4,500,000 flowthrough units valued at $0.05 per FT unit, which amounts to $225,000.
As quoted in the press release:
Each Unit of the $200,000 Flow-Through Financing (4,000,000 flow-through units) consists of one (1) Common Share of the Company (to be issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) (a “Flow-Through Share”) and three-quarter of one (3/4) share purchase warrant (the “Warrant”). Each full Warrant shall entitle the holder thereof to purchase one (1) additional common share of HLM at an exercise price of $0.10 for a 24 month period from closing (the “Offering”).
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