New Issue: Moss Lake closes C$1.22 million placements of shares, units

By Devika Patel

Knoxville, Tenn., Nov. 16 - Moss Lake Gold Mines Ltd. said it has raised C$1,215,290.19 in a non-brokered private placement of flow-through shares and units. The deal priced on Oct. 15 for C$1.2 million and was increased to C$1,213,315.69 on Oct. 31.

The company sold 2,470,593 flow-through shares at C$0.33 each for C$815,295.69 and 1,599,978 units at C$0.25 each for C$399,994.50.

The units each consist of one non flow-through share and one half-share non flow-through warrant. Each whole warrant will be exercisable at C$0.40 for two years.

Moss Lake paid C$59,950 in fess for this deal and issued 193,660 finder's fee warrants exercisable at C$0.25 for two years.

Proceeds will be used for development and general corporate purposes.

Toronto-based Moss Lake is a gold mining company. It is a 62% owned subsidiary of Wesdome Gold Mines Ltd.

Issuer:	Moss Lake Gold Mines Ltd.
Issue:	Flow-through shares; units of one non flow-through share and one half-share non flow-through warrant
Amount:	C$1,215,290.19
Agent:	Non-brokered
Fees:	C$59,950, 193,660 warrants
Pricing date:	Oct. 15
Upsized:	Oct. 31
Settlement date:	Nov. 16
Stock symbol:	TSX Venture: MOK
Stock price:	C$0.27 at close Oct. 12
Flow-through shares
Amount:	C$813,315.69
Shares:	2,470,593
Price:	C$0.33
Warrants:	No
Units
Amount:	C$399,994.50
Units:	1,599,978
Price:	C$0.25
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.40

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