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Houston Lake Mining Announces $100,000 Flow-Through Financing
Houston Lake Mining Announces $100,000 Flow-Through Financing Sudbury, Ontario CANADA, Augus...
About this update from Frontier Lithium Inc.
[{"type":"text","content":"Houston Lake Mining Announces $100,000 Flow-Through FinancingHouston Lake Mining Announces $100,000 Flow-Through Financing\nSudbury, Ontario CANADA, August 19, 2013 /FSC/ - Houston Lake Mining Inc. (HLM - TSX Venture),is a mining exploration company which is actively exploring for rare metals and currently focusing on its 100% owned and optioned Pakeagama Rare Metals Project in northwestern Ontario, Canada. HLM is proposing a non-brokered private placement offering of up to a maximum of 1,428,571.4 common shares (\"Common Shares\") of the Company.  \nThe Common Shares are to be issued under a unit offering whereby up to a maximum of 1,428,571.4 units (\"Units\") at a subscription price of $0.07 per Unit are to be offered.  Each Unit shall consist of one (1) Common Share of the Company (to be issued on a \"flow-through\" basis pursuant to the Income Tax Act (Canada) (a \"Flow-Through Share\") and one-half (1/2) share purchase warrant (the \"Warrant\") (each full Warrant shall entitle the holder thereof to purchase one-half (1/2) additional common share of HLM at an exercise price of $0.10 for a 24 month period from closing (the \"Offering\").   \nAll of the Flow-Through Shares and Warrants issued pursuant to the private placement are subject to a 4-month hold period. Completion of the private placement is subject to the final approval of the TSX Venture Exchange.  Proceeds from the financing will be used to advance Houston Lake's 100% owned and optioned Pakeagama Rare Metal project located in northwestern Ontario. \nAll securities issued in connection with this financing have a hold period of 4 months. HLM reserves the opportunity to grant to eligible persons a finder's fee of a maximum 5% of the gross proceeds of the Offering and finder options of a maximum of 5% of the total number of Units sold under the Offering. Each finder option will be exercisable at an exercise price of $0.10 into one common share and one-half Warrant for a period of two years from closing.\nAbout Houston Lake Mining Inc.\nHLM is a mining exploration company that is actively exploring for the rare metals cesium, tantalum, lithium and currently focusing on its 100% owned and optioned Pakeagama Rare Metals Project in northwestern Ontario, Canada. HLM has a total of 75,236,695 common shares issued and outstanding (exc...