The gold exploration and development space will continue to garner considerable attention as the price of the yellow metal continues to hit new highs. This morning McFarlane Lake Mining Limited (OTC: MLMLF) could be one of the companies from the sector worth tracking in light of the announcement that it made yesterday about a key development.
The Announcement
McFarlane Lake Mining Limited announced in yesterday’s news release that it had made plans for a non-brokered private placement. In the placement in question, the company would offer a maximum of 20000000 units in McFarlane Lake Mining Limited for the price of C$0.35 each. In addition to that, the company would also offer 14285714 flow-through shares for C$0.07 each. That would allow the company to raise collective gross proceeds to the tune of C$1000000. The flow-through shares would qualify as flow-through shares.
Key Details
In the news release from McFarlane Lake Mining Limited yesterday, it was noted that the minimum aggregate subscription for the offering had to be C$635000. Each unit would be made up of one common share in the company and half of a share purchase warrant. A whole warrant will entitle the holder to pick up a share for C$0.07.
