Mountain Lake Announces a Non-Brokered Private Placement

Mountain Lake Resources Inc(TSXV:MOA) announced arranging a non-brokered private placement to raise $2,000,000. The funds will be used to drill on two Newfoundland Gold projects: Valentine Lake and Glover Island.

As quoted in the press release:

The Units will be offered at a price of $0.58 and will consist of one flow-through share and one-half of a transferable common share purchase warrant (the “Warrants”), with each full warrant exercisable at a price of $0.85 per common share for a period of 18 months following the close of the offering.

The proceeds from the Offering will be used to fund the Company’s exploration work in Newfoundland that will include winter drilling on the Valentine Lake JV Gold Project and the 100% owned Glover Island Gold Project.

Click here to read the Mountain Lake Resources Inc (TSXV:MOA) press release
Click here to see the Mountain Lake Resources Inc (TSXV:MOA) profile.