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Houston Lake Mining Inc Closes $225,000 Private Placements-Canada Stockwatch News


Tuesday, 8 Jan 2013 04:25pm EST 

Canada Stockwatch News reported that Houston Lake Mining Inc. has closed two non-brokered private placement offerings of 4.5 million flow-through units of the Company priced at five cents per FT unit for total gross proceeds of $225,000. Each unit of the $200,000 flow-through financing consists of one common share of the Company and three-quarters of one share purchase warrant. Each full warrant shall entitle the holder thereof to purchase one additional common share of HLM at an exercise price of 10 cents for a 24-month period from closing. In connection with the $200,000 offering, the Company issued a finder's fee of $10,000 and 200,000 finder options to Accilent Capital Management Inc. of Toronto, Ont. Each finder option will be exercisable at a price of 10 cents into three-quarters of one common share for a period of two years from the date of issuance. Each full warrant shall entitle the holder thereof to purchase one additional common share of HLM at an exercise price of 10 cents for a 24-month period from closing. In connection with the $25,000 offering, the company issued a finder's fee of $2,000 and 40,000 finder options to Fidelity Clearing Canada ULC ITF Euro Pacific Canada Inc. of Toronto, Ont. Proceeds from the financing will be used to advance Houston Lake's 100% owned and optioned Pakeagama rare-metal project located in Northwestern Ontario. 

Company Quote

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21 Nov 2014