Mine Lake Minerals says it has completed a private placement of 500,000 units, each unit comprising one flow-through common share and one unit purchase warrant good to purchase a further flow-through share at 25 cents a share, on or before Feb 28, 1989. The unit price was 20 cents each.
The company says it will use the $100,000 proceeds from the placement to carry out an exploration program on mining claims in the Bleckington Lake area of northern Ontario, as well as on adjacent mining claims held by subsidiary, Archon Minerals.
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