Margaret Lake Diamonds Announces Closing of Non-Brokered Private Placement

Margaret Lake Diamonds Inc. (TSXV: DIA) announced it has closed its non-brokered private placement consisting of 559,000 flow-through common shares at a price of $0.18 per flow-through Share, for total gross proceeds of $100,620.

As quoted in the press release,

The securities issued in this closing are subject to a four-month and a day hold period expiring July 27, 2015.   Proceeds from the flow–through shares will be used for Canadian Exploration Expenses within the meaning of the Income Tax Act. This will specifically include the processing and analysis of some 160 indicator mineral samples from the Margaret Lake property.

Click here for the full Margaret Lake Diamonds Inc. (TSXV:DIA) press release