Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum Mountain Lake Resources Inc V.MOA

TSXV:MOA - Post Discussion

Mountain Lake Resources Inc > NEWS: Mountain Lake Arranges Private Placement Fin
View:
Post by red911 on Jul 26, 2010 9:07am

NEWS: Mountain Lake Arranges Private Placement Fin

Financing...

Mountain Lake Arranges Private Placement Financing

Symbol: MOA

Mountain Lake Arranges Private Placement Financing
Proceeds of $500,000 to be raised

Halifax, Nova Scotia CANADA, July 26, 2010 /FSC/ - Mountain LakeResources Inc (MOA - TSX Venture, MLKRF - OTCBB_Pink_Sheets), (?MountainLake? or the ?Company?) is pleased to report that it has arranged aprivate placement of 1,000,000 units (collectively, the ?Units?) at
.50 per Unit to raise $500,000 in gross proceeds. Each Unit willconsist of one common share and one-half of a non-transferable sharepurchase warrant (collectively, the ?Warrants?). Each Warrant willentitle the holder to purchase one additional common share of theCompany at a price of
.75 per share for a period of two years from theclosing date. Mountain Lake will have the right to give notice to thewarrant holders to accelerate an earlier conversion of the Warrants, ifthe Company?s common shares, as traded on the TSX Venture Exchange,close above $1.25 per share for at least 10 consecutive tradingdays. In that event, the Warrants will expire 30 days after the Companyhas given notice of the accelerated conversion to the Warrant holders.

Completion of this financing is subject to the delivery ofdefinitive subscription agreements and TSX Venture Exchange?sacceptance. All of the securities issued pursuant to this offering willhave a hold period expiring four months after the closing date.

The net proceeds of this financing will be used to fund theCompany?s exploration and development work on its projects inNewfoundland, Canada and for general working capital purposes.

About Mountain Lake Resources Inc.

Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified juniorexploration company, whose corporate strategy is to build shareholdervalue through the exploration and development of economically viablemineral properties. Mountain Lake?s current projects include: a 30%interest in the Valentine Lake gold property (Newfoundland) with anoption to acquire the remaining 70% interest from Richmont Mines Inc.and a subsequent sub-option and joint venture agreement whereby MarathonPGM Corp. can earn a 50% interest in the property; a 100% interest inthe Bobby?s Pond base metals property (Newfoundland); an option to earn a100% interest in the Little River gold exploration property(Newfoundland); and a 2,350,000 share (~6.4%) stake in Etruscan DiamondsLimited, an alluvial diamond project (South Africa). For moreinformation visit: www.mountain-lake.com

For corporate, media, or investor inquiries, please contact:

Greg Lytle,
Lytle & Associates
Corporate Communications
North America toll-free: (866) 285-5817
International & Vancouver: (604) 839-6946
Email: info@mountain-lake.com

ON BEHALF OF THE BOARD OF DIRECTORS

s/?Gary Woods?
President & CEO

NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICESPROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE)ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWSRELEASE.

Source: Mountain Lake Resources Inc (TSX-V: MOA) https://www.mountain-lake.com
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com


Comment by theCurse on Jul 26, 2010 10:53am
Now WHY another PP when they just did an oversubscribed one???????????tC
Comment by Cousin_Gert on Jul 26, 2010 11:49am
Hey TC, This appears to me to be a classic case where a little unknown company jumps into the spotlight going first from always being underfinanced to where the big guys discover the hugely undervalued situation and take down a good position in advance of a big move to the upside. There is a good reason that $'s are all of a sudden flowing into MOA's treasury and it is not ...more  
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities