Source: SLAM Exploration.
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  • SLAM Exploration (SXL) has closed a private placement for gross proceeds of $292,999.96
  • The company has issued 5,327,272 flow-through units priced at $0.055 per unit
  • Proceeds will be used to fund exploration on SLAM’s gold and base metal projects
  • SLAM Exploration is a project-generating resource company focused on gold and base metal properties in Ontario, Nova Scotia and New Brunswick
  • SLAM Exploration Ltd. (SXL) opened trading at C$0.05 per share

SLAM Exploration (SXL) has closed a private placement for gross proceeds of $292,999.96.

The company has issued 5,327,272 flow-through units priced at $0.055 per unit. Each FT unit is comprised of one common share issued on a “flow-through” basis and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one additional share at a price of $0.10 for a period of 24 months from the date of closing.

The units issued are subject to a hold period that expires on May 1, 2022.

The company has paid finder’s fees of $31,200 cash and 231,364 non-flow-through units.

Proceeds will be used to fund exploration on SLAM’s gold and base metal projects with the main focus on the Menneval gold project in New Brunswick. SLAM Exploration is a project-generating resource company focused on gold and base metal properties in Ontario, Nova Scotia and New Brunswick.

SLAM Exploration Ltd. (SXL) opened trading at C$0.05 per share.

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