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Provider: Reuters Investment Profile
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Provider: Reuters Investment Profile
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Provider: Thomson Reuters Stock Report
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Provider: Thomson Reuters Stock Report
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First Mountain Exploration Ltd Announces Closing Of Private Placement


Friday, 27 Sep 2013 05:33pm EDT 

First Mountain Exploration Ltd announced that it has closed the first tranche of a non-brokered private placement previously announced on August 29, 2013. First Mountain issued 2,403,000 common shares in the capital of the Company at a price of $0.08 per Common Share and 2,930,000 common shares of the Company issued on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of $0.10 per Flow-Through Share for aggregate gross proceeds of $485,240. In connection with the Offering, First Mountain paid a finder's fee to certain eligible persons in accordance with applicable securities laws, consisting of $32,819 in cash. The Company also issued 366,640 agent's options to Eligible Persons. Each Agent's Option is exercisable to purchase one Common Share at a price of $0.12 per Common Share until September 27, 2014. Each of the Common Shares, Flow-Through Shares and Agent's Options are subject to resale restrictions imposed by applicable securities laws and the policies of the TSX Venture Exchange until January 28, 2014. The net proceeds of the Offering shall be primarily used for the Company's exploration and development program, including the development drilling on certain oil and gas producing assets in the Atlee Buffalo area of Alberta. 

Company Quote

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24 Jul 2014