Toronto-based HSK Minerals has concluded a flow-through financing with 1987 Tap Mineral Exploration Ltd. Partnership to finance its exploration activities this year.
Under the terms of the financing, the company will issue up to 250,000 common shares at $1.60 per share for an aggregate of up to $400,000
HSK has also granted to Tap an option to purchase up to 100,000 additional non-flow-through common shares at $2.00 per share for a period ending Feb 4, 1988.
Proceeds of the flow-through agreement, which is subject to regulatory approval, will be used to explore HSK properties in Newfoundland, Matachewan and the Kirkland Lake Ont., gold camp.
The company recently acquired the Queenston Gold mine in Kirkland Lake from the Canadian Imperial Bank of Commerce for $2 million.
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