- LaSalle Exploration (LSX) has secured a C$2,000,000 flow-through private placement
- Shares sold to Quebec residents are priced at C$0.20 per share with the proceeds going to the Radisson Property in Quebec
- Proceeds from shares priced at C$0.18 per share will go to the Egan and Blakelock gold properties
- LaSalle Exploration focuses on less explored districts of the Abitibi and the Eeyou Itschee-James Bay region in Quebec
- LaSalle Exploration (LSX) closed the day trading flat at C$0.15 per share
LaSalle Exploration (LSX) has secured a C$2,000,000 flow-through private placement.
Shares sold to Quebec residents are priced at C$0.20 per share with the proceeds going toward advancing the drill program on the Radisson Property in Quebec.
Proceeds from shares priced at C$0.18 per share will fund further exploration of the company’s Egan and Blakelock gold properties in Ontario.
Ian Campbell, LaSalle’s President and CEO, commented,
“This financing allows us to lock in this season’s exploration plans for the Radisson property, in particular our first diamond drill program designed to test several high priority gold and gold-copper targets developed to date.
Furthermore, an extensive summer field program will be finalized to develop additional drill targets and initiate exploration on additional high potential under-explored areas of this large property. Proceeds will also be expended on our high-grade gold Egan and Blakelock properties to advance them to the drilling stage.”
The proceeds from the sales will fund expenditures that qualify as “Canadian exploration expenditures” and “flow-through mining expenditures” within the meaning of the Income Tax Act.
The shares sold to Quebec residents will qualify for additional deductions under Quebec’s Taxation Act.
LaSalle Exploration focuses on less explored districts of the Abitibi and the Eeyou Itschee-James Bay region in Quebec.
LaSalle Exploration (LSX) closed the day trading flat at C$0.15 per share.