Slam Exploration Closes $235,000 Private Placement

SLAM Exploration Ltd. (TSXV:SXL) announced it has raised $235,000 by placement of 2.2 million units at a price of five cents per unit and 2.5 million flow-through units at a price of five cents per flow-through unit in the private placement announced on Jan. 24, 2016, and amendments announced on Feb. 25, 2016, and March 1, 2016.
Proceeds received from the units will be used for general corporate purposes. Proceeds received from the flow-through units will be used to finance exploration on the company’s gold projects in New Brunswick. The main focus is the Menneval gold project where Slam has been granted a permit to extract and process a 2,000-tonne bulk sample from the high-grade Maisie gold vein.
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