MOUNTAIN LAKE MINERALS INC. CLOSES PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OFFERING
August 16, 2017 – Wolfville, Nova Scotia – Mountain Lake Minerals Inc. (“Mountain Lake” or the “Company”) (CSE: MLK) is pleased to announce that it has closed the private placement announced on February 21, 2017 and August 10, 2017.
The Company closed its private placement on August 16, 2017 for gross proceeds of $175,000, wherein the Company issued a total of 7,000,000 units at a price of 2.5 cents per unit.
Each unit consists of one (1) common share of the Company and one (1) transferable common share purchase warrant. One whole common share purchase warrant entitles the holder thereof to purchase one common share of the Company at $0.05 per share for a period of two years from the closing date of the private placement.
The proceeds of the private placement will be used for the continuation of activities at the Company’s operations in Newfoundland, marketing initiatives and general working capital. The securities in the private placement are subject to a holding period of four months and one day from the closing date of the private placement. Certain Insiders, Directors and Officers subscribed for a portion of the placement.
About Mountain Lake Minerals Inc.
Mountain Lake Minerals Inc. is a junior exploration company exploring for precious metal deposits. Mountain Lake’s current projects are located on the island of Newfoundland and include, a 100% interest in the Glover Island gold exploration property and a 100% interest in the Little River gold-antimony exploration property.
For additional information, please contact:
Paul K. Smith, President & CEO
Mountain Lake Minerals Inc.
Phone: (902) 698-2662 or (647) 729-0311
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO