- LaSalle has raised a total of $1,296,000 through the issuance of 8,100,000 units priced at $0.16 per unit
- Crescat Portfolio Management invested $1,000,000 in the company
- LaSalle has granted Crescat the right to participate in any future financings in order to maintain its percentage interest in the company
- LaSalle will allocate $500,000 to the exploration of the company’s Egan Property
- Finder’s fees were paid to GloRes Securities Inc., and Marco Polo Securities Inc.
- LaSalle is a mining exploration company
- LaSalle Exploration Corp. (LSX) opened trading at C$0.15 per share
LaSalle Exploration (LSX) has closed the initial tranche of its private placement.
To date, a total of $1,296,000 has been raised through the issuance of 8,100,000 units at $0.16 per unit. Each unit includes one common share and one-half common share purchase warrant. Each whole warrant can be exercised for one common share at $0.24 per share for 24 months.
Shares and warrants issued will be subject to a hold period ending November 28.
LaSalle has agreed to apply $500,000 of the $1,000,000 invested by Crescat Portfolio Management LLC. on the exploration of the company’s Egan Property in Ontario. The remainder of the funds will be used for exploration work on the company’s properties, and for general corporate purposes.
“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,” said Ian Campbell, President and CEO.
LaSalle has also granted Crescat the right to participate in any future financings in order to maintain its percentage interest in the company as long as Crescat holds at least 3 per cent of the outstanding shares of the Company.
A finder’s fee of 6 per cent cash and 6 per cent warrants is payable to GloRes Securities Inc., and Marco Polo Securities Inc. in respect of their assistance in placing $1,120,000 of this tranche of the offering.
LaSalle is a mining exploration company engaged in the exploration of gold, precious metals and base metal properties in Quebec and Ontario.
LaSalle is actively exploring Radisson as well as the Blakelock and Egan high-grade gold properties located in northeastern Ontario.
LaSalle Exploration Corp. (LSX) opened trading at C$0.15 per share.