First Tranche ClosedSlam closes $325,050 first tranche
2010-04-05 11:09 ET - News Release
Mr. Mike Taylor reports
SLAM COMPLETES $325,000 FINANCING
Slam Exploration Ltd. has completed the first tranche of a non-brokered private placement for total proceeds of $325,050, consisting of 3,334,000 flow-through units at a price of 7.5 cents per flow-through unit for total gross proceeds of $250,050 and one million regular units at a price of 7.5 cents per regular unit for total gross proceeds of $75,000. Each flow-through unit consists of one common share issued on a flow-through basis and one-half of one common share warrant (Series A warrant).
Each whole Series A warrant entitles the holder to acquire one non-flow-through common share at a price of 10 cents per share for a period of 12 months and at a price of 20 cents for an additional 12 months thereafter, expiring 24 months after issuance. Each regular unit consists of one common share and one share purchase warrant (Series B warrant). Each Series B warrant entitles the holder to acquire one non-flow-through common share at a price of 10 cents per share for a period of 24 months. This private placement remains subject to final approval of the TSX Venture Exchange.