By Laura Lutz
Des Moines, Oct. 15 - Moss Lake Gold Mines Ltd. intends to raise up to C$1.2 million from a private placement of flow-through shares and units.
The company plans to sell up to 2,424,242 flow-through shares at C$0.33 each and up to 1.6 million units at C$0.25 each.
The units will 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.
The placement will be non-brokered.
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$1.2 million
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 15
|
| Stock symbol: | TSX Venture: MOK
|
| Stock price: | C$0.27 at close Oct. 12
|
|
|
| Flow-through shares
|
| Shares: | 2,424,242
|
| Price: | C$0.33
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 1,600,000
|
| 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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