Business
Mayo Lake Minerals Announces Private Placement of Common and Flow Through Units
Ottawa, Ontario--(Newsfile Corp. - July 22, 2022) - Mayo Lake Minerals Inc. (CSE: MLKM) ("Mayo" or the "Company") is pleased to announce a Private Placement ('O
About this update from Mayo Lake Minerals, Inc.
[{"type":"text","content":" Ottawa, Ontario--(Newsfile Corp. - July 22, 2022) - Mayo Lake Minerals Inc. (CSE: MLKM) (\"Mayo\" or the \"Company\") is pleased to announce a Private Placement ('Offering') totalling up to $200,000 in gross proceeds to be completed on or about August 18, 2022 ('the Closing Date') consisting of flow through units @ $0.15 per unit and common share units @ $0.12 per unit. The full details of the Offering are set forth in the attached Term sheet ('Schedule A'). Dr, Vern Rampton, President & CEO of the Company, said, \"As announced in our press release of July 15, 2022 we continue to make excellent progress on our exploration at our Carlin-Roop Silver Project in the Keno Hill Silver District and see an opportunity to add to our portfolio through further exploration at our primary Anderson Davidson gold property and highly prospective Trail Minto property which lies in proximity to Banyan Gold's Aur-Mac property in the Tombstone Plutonic Belt.\" In other corporate news, the Company announced the award of a total of 3,990,000 incentive options exercisable @ $0.15 each to corporate officers, directors, contractors and advisors. The options are valid for 5 years, vest in three equal annual tranches beginning on Aug 1, 2022 and are subject to the approval of all regulatory authorities. The Company had no options outstanding prior to the approval of the current options by the board of directors. For additional information contact:Vern Rampton, President & CEO; [email protected] Sutherland, M.Sc., P. Geo., VP Exploration; [email protected] Munro, BB.A, LL.B Corporate Administrator; [email protected] About Mayo Lake Minerals Inc. Mayo is actively engaged in the exploration and development of five precious metal projects in the Tombstone Plutonic Belt of the Tintina Gold Province. The properties cover 232 square kilometres in the Yukon's Mayo Mining District and lie within the traditional territory of the Na-Cho Nyäk Dun First Nation. The Company is presently focusing on its flagship Carlin-Roop silver project lying within the Keno Hill Silver District. The eastern sector of the Silver District has recently been the site of numerous silver discoveries by Metallic Minerals and the Mayo. Two active mines; Victoria Gold's Eagle Gold Mine and Alexco Resources' Keno Silver mines also lie ...