By Devika Patel
Knoxville, Tenn., April 17 - Houston Lake Mining Inc. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 1,428,575 units at C$0.70 apiece. Each unit consists of one flow-through common share and one warrant. Each warrant is exercisable at C$0.80 for two years.
Proceeds will be used for exploration and drilling.
Houston Lake is a gold producer based in Sudbury, Ont.
| Issuer: | Houston Lake Mining Inc.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 1,428,575
|
| Price: | C$0.70
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80
|
| Agent: | Non-brokered
|
| Pricing date: | April 17
|
| Stock symbol: | TSX Venture: HLM
|
| Stock price: | C$0.64 at close on April 16
|
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