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Pele Mountain Resources Closes First Tranche of Private Placement
Jun. 25, 2013 04:34AM PST
Rare Earth Investingele Mountain Resources Inc. (TSXV:GEM,OTCWX:GOLDF) announced that they have closed the first tranche of a non-brokered private placement offering of 6,905,809 flow-through units at a purchase price of $0.07 per FT Unit for aggregate gross proceeds of $483,407 and 40,000 units at a price of $0.05 each for aggregate gross proceeds of $2,000.
Pele Mountain Resources Inc. (TSXV:GEM,OTCWX:GOLDF) announced that they have closed the first tranche of a non-brokered private placement offering of 6,905,809 flow-through units at a purchase price of $0.07 per FT Unit for aggregate gross proceeds of $483,407 and 40,000 units at a price of $0.05 each for aggregate gross proceeds of $2,000.
As quoted in the press release:
All proceeds raised from the sale of FT Units will be used by Pele to finance qualified Canadian exploration expenditures on its Canadian resource properties and all proceeds raised from the sale of Units will be used by Pele for general working capital purposes.
To view the whole press release, click here.
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