Two private placements totalling $300,000 have been completed by Spirit Lake Explorations (ME) which plans to begin a surface drilling program on its Edwards gold project in Jacobson Twp., near Wawa, Ont. The placements, comprising 250,000 shares each, were completed at 60 cents per share with one of the company’s directors and a U.S. citizen. Each common share is accompanied by a share purchase warrant allowing its holder to subscribe for one additional share at 75 cents. The proceeds will go to drilling on the Edwards project as well as to augment working capital.
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