Business
Mayo Lake Minerals Closes First Tranche of Private Placement
Highlights Numerous Drill-Ready Gold Prospects at Anderson-Davidson Property Ottawa, Ontario--(Newsfile Corp. - April 4, 2025) - Mayo Lake Minerals Inc. (CSE: MLKM) ('Mayo Lake' or the 'Company') is pleased to report the closing of the first leg of its previously announced (March 6) private placement consisting of both common share units (CS Units) and flow-through Units (FT Units). The placement remains open and is intended to raise a total of $900,000.TermsEach CS Unit was priced ...
About this update from Mayo Lake Minerals, Inc.
[{"type":"text","content":"Highlights Numerous Drill-Ready Gold Prospects at Anderson-Davidson Property","length":76,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Ottawa, Ontario--(Newsfile Corp. - April 4, 2025) - Mayo Lake Minerals Inc. (CSE: MLKM) ('Mayo Lake' or the 'Company') is pleased to report the closing of the first leg of its previously announced (March 6) private placement consisting of both common share units (CS Units) and flow-through Units (FT Units). The placement remains open and is intended to raise a total of $900,000.","length":397,"tagName":"p"},{"type":"text","content":"Terms","length":5,"tagName":"p"},{"type":"text","content":"Each CS Unit was priced at $0.05 and consists of one common share (a "Common Share") and one common share purchase warrant ("CS Warrant"). Each CS Warrant is exercisable into one Common Share at a price of $0.07 per Common Share for a period of 48 months from the closing date. A total of 600,000 CS Units were issued for a total of $30,000 to be used for administrative purposes.","length":400,"tagName":"p"},{"type":"text","content":"Each FT Unit is priced at $0.05 per FT Unit and consists of one flow-through share in the capital of the Company (a "FT Share") and one purchase warrant ("Warrant"). Each Warrant is exercisable into one Common Share at a price of $0.07 for a period of 36 months from the closing date. Each FT Share will be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada)). A total of 1,600,000 FT Units were issued for a total of $80,000.00 to be used for exploration expenditures qualifying as "CEE" under the Income Tax Act.","length":585,"tagName":"p"},{"type":"text","content":"Mayo has engaged PhotoSat of Vancouver, B.C., to carry out satellite-based alteration surveys on its Trail-Minto and Anderson-Davidson properties as a precursor to its ground-based summer programs. The summer exploration plans will focus on advancing all properties to the point where they become attractive joint venture opportunities in an area where numerous projects are currently being developed through the discovery, resource expansion, and feasibility stages.","length":467,"tagName":"p"},{"type":"text","content":"Anderson-Davidson Claim Group. ","length":30,"tagName":"p...