SLAM Exploration Completes First Tranche of Private Placement

SLAM Exploration (TSXV:SXL) has raised $315,000 in the first tranche of a private placement announced November 17. Proceeds from the sale of FT Units will be used to fund exploration of SLAM’s New Brunswick base metal and gold projects.

As quoted in the press release:

Each Unit is comprised of one common share in the capital of the Company and one-half of one Warrant. Each FT Unit is comprised of one common share in the capital of the Company issued on a “flow-through” basis and one-half of one Warrant. Each whole Warrant entitles the holder thereof to acquire one common share at a price of $0.05 for a period of 12 months and at a price of $0.10 for an additional 12 months thereafter, expiring on December 11, 2016. The Units are subject to a four-month and one day hold period expiring on April 12, 2015.

Click here to read the SLAM Exploration (TSXV:SXL) press release