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SLAM Completes Private Placement
SLAM Completes Private Placement SLAM Completes Private Placement Canada NewsWir...
About this update from Slam Exploration Ltd.
[{"type":"text","content":"\n\n\n\nSLAM Completes Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nSLAM Completes Private Placement\nCanada NewsWire\nMIRAMICHI, NB, July 26, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nMIRAMICHI, NB, July 26, 2016 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (the \"Company\") announces that it has closed the first tranche of the private placement announced June 29, 2016 (the \"Private Placement\").  The Company raised $305,680 by placement of 3,894,000 Units at a price of $0.06 per Unit and 1,220,667 FT Units at a price of $0.06 per FT Unit.  Each Unit is comprised of one common share in the capital of the Company and one warrant.  Each FT Unit is comprised of one common share in the capital of the Company issued on a \"flow-through\" basis and one-half of one warrant.  Each whole warrant (a \"Warrant\") entitles the holder thereof to acquire one common share at a price of $0.075 for a period of 24 months, expiring on July 25, 2018.  Both the Units and FT Units are subject to a four-month and one day hold period expiring on November 26, 2016. \n\nThe Company paid a Finder's Fee of $12,840, 100,000 Finder's Shares and 115,120 Finder's Warrants.  Each Finder's Warrant has the same terms as the Private Placement Warrant.\n\nThe first tranche Private Placement is subject to final approval of the TSX Venture Exchange.\n\nProceeds received from the Units will be used for general corporate purposes.  Proceeds received from the FT Units will be used to fund exploration on SLAM's gold projects in New Brunswick.  The main focus is the Menneval gold project where all permits are in place to extract and process a 2,000 tonne bulk sample from the high grade Maisie gold deposit.\n\nAbout SLAM Exploration Ltd:\n\nSLAM is a project generating resource company with a portfolio of gold and base metal projects in eastern Canada.  The Menneval gold project resulted from the discovery of the Maisie gold deposit by SLAM's...