Scintilore seeks to raise $640,000

Two arm’s-length private placements are intended to raise $640,000 for Scintilore Explorations (TSE).

The placements consist of 1.6 million shares priced at 40 cents each, with warrants entitling the purchasers to obtain an additional 1.6 million shares at 50 cents each for one year.

Scintilore is pursuing legal actions against prospectors John Larche and Donald McKinnon, Teck (TSE), International Corona Resources, HGM Inc. and Hemlo Gold Mines (TSE). Scintilore seeks to claim all benefits received, or to be received, by the prospectors from the claims staked by, or on behalf of, them in the Hemlo area of northern Ontario.

These claims hold Teck’s 50%-owned David Bell mine and Hemlo’s wholly owned Golden Giant mine.

The proposed placements are subject to regulatory approval.