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Lakeland Resources Inc Announces Private Placements


Friday, 16 Aug 2013 03:16pm EDT 

Lakeland Resources Inc announced a non-brokered private placement financing of up to 10,000,000 Units of the Company at a price of $0.10 per Unit for gross proceeds of $1,000,000. Each Unit will consist of one common share and one common share purchase warrant. Each Warrant will be exercisable into one common share at $0.15 for a period of 12 month from closing. The Company also announces a private placement financing of up to 2,000,000 flow-through units of the Company at a price of $0.125 per FT Unit for gross proceeds of $250,000. Each FT Unit will consist of one flow-through common share and one common share purchase warrant. Each Warrant will be exercisable into one common share at $0.15 for a period of 12 months from closing. Proceeds from the private placements will be used to conduct exploration on the Company's Athabasca uranium properties and for general working capital. 

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