Mountain Lake Resources Ltd ( MOA) VSE Message Board

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Gold/Mining/Energy : Mountain Lake Resources Ltd ( MOA) VSE

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To: Peter Bourgeois who wrote (206)	11/28/1997 8:05:00 PM
From: StockPro	of 598

Private placement arranged Mountain Lake Resources Inc MOA Shares issued 11140937 1997-11-25 close $0.4 Friday Nov 28 1997 Mr Allen Sheito reports The company has arranged a private placement of 1,333,333 flow-through shares at a price of $0.30 per share to raise gross proceeds of $400,000 for qualified Canadian Exploration Expenses. In addition, the company will issue 1,333,333 non-transferable warrants to purchase up to an additional 1,333,333 shares at an exercise price of $0.50 per share for a term of two years from the closing date. The CEE incurred with the private placement proceeds will be flowed through to the investor. The company will use the net proceeds from the private placement for further exploration work on the company's Maliseet property, New Brunswick.

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