By Devika Patel
Knoxville, Tenn., Oct. 22 - Douglas Lake Minerals Inc. took in $1 million in a private placement of shares on Oct. 15, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 5 million common shares at $0.20 apiece.
Proceeds will be used to advance the company's Tanzanian gold project, for other exploration and development activities, for land and project acquisitions and for general corporate purposes.
Douglas Lake, based in Vancouver, B.C., is a gold and diamond exploration company.
| Issuer: | Douglas Lake Minerals Inc.
|
| Issue: | Common shares
|
| Amount: | $1 million
|
| Shares: | 5 million
|
| Price: | $0.20
|
| Warrants: | No
|
| Settlement date: | Oct. 15
|
| Stock symbol: | OTCBB: DLKM
|
| Stock price: | $0.35 at close Oct. 15
|
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