Houston Lake Mining Announces $750,000 Financing

Houston Lake Mining (TSXV:HLM) is proposing a non-brokered private placement for gross proceeds of up to $750,000.
As quoted in the press release:

The Common Shares are to be issued under a unit offering whereby up to a maximum of 4,838,710 units (“Units”) at a subscription price of $0.155 per Unit are to be offered.  Each Unit shall consist 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 one-half (1/2) share purchase warrant (the “Warrant”) (each full Warrant shall entitle the holder thereof to purchase one additional common share of HLM at an exercise price of $0.22 for a 18 month period from closing (the “Offering”).
All of the Flow-Through Shares and Warrants issued pursuant to the private placement are subject to a 4-month hold period. Completion of the private placement is subject to the final approval of the TSX Venture Exchange.  Proceeds from the financing will be used to advance Houston Lake’s 100% owned and optioned PAK Lithium Project located in northwestern Ontario.

Click here for the full press release.