In order to raise money for its copper project in Michigan, Great Lakes Minerals (TSE) is offering shareholders one right for every share held as of Nov. 19.
With five rights and 50 cents, shareholders will be entitled to one share of the company. The rights will be posted for trading on The Toronto Stock Exchange.
Proceeds of $535,000 will be used to finance advance royalty payments from Great Lakes’ copper property on Michigan’s Keeweenaw Peninsula, and for general operating and corporate purposes.
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