- LaSalle Exploration (LSX) has announced a C$1.6 million private placement with participation from Crescat Capital
- Crescat is investing $1 million in the placement with half going toward the company’s Egan property
- The company’s work on the Egan property has resulted in grab samples grading 26.9 g/t and 15.7 g/t gold
- LaSalle is an exploration company focused on less explored districts of the Abitibi
- LaSalle Exploration (LSX) is down by 6.25 per cent and is currently trading at $0.15 per share
LaSalle Exploration (LSX) has announced a C$1.6 million private placement with participation from Crescat Capital.
The company will be offering units priced at $0.16, each comprised of one common share and one-half of one common share purchase warrant.
Each whole warrant may be exercised into one common share priced at $0.24 for 24 months from issuance.
Crescat is investing $1 million in the placement. Half of the investment will fund the company’s Egan property in Ontario with the remainder going toward general corporate purposes.
LaSalle’s work on the Egan property has resulted in grab samples grading 26.9 g/t and 15.7 g/t gold.
Mapping and prospecting is underway with a LiDAR and close-spaced airborne magnetic survey recently completed.
Egan is strategically located near three actively producing gold mining camps operated by Timmins, Kirkland Lake and Matachewan with collective production of 115 million ounces of gold.
Ian Campbell, LaSalle’s President and CEO, commented,
“We are extremely pleased to welcome Crescat as a significant new shareholder to LaSalle. This financing will provide LaSalle with the resources to escalate our exploration campaign at Egan while we continue to advance the Radisson and Blakelock properties.”
LaSalle is an exploration company focused on less explored districts of the Abitibi.
LaSalle Exploration (LSX) is down by 6.25 per cent and is currently trading at $0.15 per share as of 11:22 am ET.
