VANCOUVER, BC / ACCESSWIRE / September 6, 2024 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) ("GLM" or the "Company") reports that the private placement announced on September 5th, 2024, is now fully subscribed. The financing arranged is a non-brokered private placement of up to 15 million units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of $750,000.00 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one transferable common share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the Subscriber to purchase one Warrant Share for a 36-month period after the Closing Date at an exercise price of $0.07 per share. Net proceeds of the Financing will be used to advance the Company's Jewel Ridge gold property near Eureka, Nevada and for general working capital purposes.
"We are very pleased with the reaction to our financing announcement. These funds enable us to drill the first phase of high priority holes on our Jewel Ridge project in Nevada. We expect drilling to commence at the end of this month and will issue a press release confirming details once this financing closes at the end of next week." stated Mike England, CEO of Golden Lake.
Shares issued pursuant to the Financing will be subject to a four-month hold period according to applicable securities laws of Canada.
Finder's fees may be payable on the private placement, subject to the policies of the Canadian Securities Exchange.
About Golden Lake Exploration Inc.
Golden Lake Exploration Inc. is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO&DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
TollFree:1-888-945-4770
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Golden Lake Exploration Inc.
View the original press release on accesswire.com
