Lakeland Resources (TSXV:LK) announced it is holding a non-brokered private placement of 2.5 million flow through units and 3 million non flow through units to raise $600,000. The company will use the proceeds to cover exploration expenses.

According to the press release:

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.

Each Unit will consist of one common share and one warrant. Each 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 (TSXV:LK) press release