Higher demand for its shares has prompted
A unit remains priced at 15 and still entitles the holder to a share and half a warrant at no extra cost. A full warrant can be exchanged for a share within two years of the deal’s closing, at 20 apiece.
The non-brokered deal will now see Laramide pocket $30,000 more than it had expected, or $210,000 in all. Another $140,000 would be reaped if all the warrants are exercised.
Some of the proceeds are earmarked for the Reid base metal property near Timmins, Ont., where drilling is planned. The program will focus on several geophysical anomalies thought to reflect Kidd Creek-style massive sulphide mineralization.
The Kidd Creek mine, owned and operated by
Stringer-style sulphides have been discovered on a property that abuts Reid.
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