- Lara Exploration Ltd. (LRA) plans to hold a private placement
- Lara hopes to raise up to $4,000,000 by issuing 6,153,846 units priced at $0.65 per unit
- Each unit shall consist of one common share and half of one non-transferable common share purchase warrant
- Each full warrant will entitle the holder to purchase an additional common share at $1.00 for three years
- Lara will use proceeds of the offering to support new business efforts and for general corporate purposes
- Lara Exploration Ltd. opened trading at $0.70
Lara Exploration (LRA) has announced a $4,000,000 private placement.
The company will issue 6,153,846 units at $0.65 per unit.
Each unit shall consist of one common share and half of one non-transferable common share purchase warrant. Each full warrant will entitle the holder to purchase an additional common share at $1.00 for three years.
Warrants are subject to an acceleration clause.
Miles Thompson, President and CEO of Lara Exploration, will purchase 461,538 units in the private placement.
All shares issued will be subject to a four-month hold period. The proceeds of the offering will be used to support new business efforts and for general corporate purposes.
Lara is an exploration company whose principal business activities are acquisition, exploration, and development of mineral properties in South America.
Lara Exploration Ltd. opened trading at $0.70.
