Lakeland Resources Announces $1.8 Million Private Placement

Lakeland Resources (TSXV:LK) announced it has arranged a private placement of up to 13,833,400 flow-through units and up to 2.25 million units for gross proceeds of $1,885,008. The company also announced that Jody Bellefleur has been appointed as chief financial officer for the company.

According to the press release:

13,833,400 flow-through units (“FT Units”) at a price of $0.12 per FT Unit and up to 2,250,000 units (“Units”) at $0.10 per Unit for gross proceeds of up to $1,885,008. Each FT Unit will consist of one flow-through common share and one half of one non flow-through common share purchase warrant in the capital of the Company. Each whole share purchase warrant (a “Warrant”) is exercisable into one common share of the Company for a period of 24 months from closing at a price of $0.15 per common share.

Click here to read the Lakeland Resources Inc. (TSXV:LK) press release