Golden Lake Exploration Announces Financing Closed

Rhea-AI Summary

Golden Lake Exploration Inc. (CSE:GLM) (OTCQB:GOLXF) successfully closed a non-brokered private placement, issuing 17,600,000 units at $0.05 per unit, generating $880,000 in gross proceeds. The funds will be used to advance the Jewel Ridge property in Nevada and for general working capital. Finders' fees of $25,450 cash and 509,000 non-transferable finders' warrants were paid to arm's length parties. Shares issued will be subject to a four-month hold period as per applicable securities laws of Canada.

Positive

• Successful closing of a non-brokered private placement generating $880,000 in gross proceeds
• Funds to be used for advancing the Jewel Ridge property in Nevada and general working capital
• Finders' fees of $25,450 cash and 509,000 non-transferable finders' warrants paid to arm's length parties

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 26, 2024 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") (OTCQB:GOLXF) is pleased to announce that further to its press releases dated April 16, 2024, the Company has closed the non-brokered private placement. The Company issued 17,600,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $880,000. Each Unit is comprised of one common share ("Share") and one transferable common share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.07 per share.

Proceeds raised will be used for advancing the Company's Jewel Ridge property in Nevada as well as for general working capital.

Finders' fees of $25,450 cash and 509,000 non-transferable finders' warrants were paid to arm's length parties. Each finder's Warrant will entitle the finder to purchase one Warrant Share of the Company for a 12-month period after the Closing Date at an exercise price of $0.07 per share.

Shares issued pursuant to the Financing will be subject to a four-month hold period according to applicable securities laws of Canada.

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

FAQ

What was the price per unit issued in the private placement by Golden Lake Exploration Inc. (CSE:GLM) (OTCQB:GOLXF)?

Golden Lake Exploration Inc. issued 17,600,000 units at a price of $0.05 per unit, generating $880,000 in gross proceeds.

What will the funds raised be used for by Golden Lake Exploration Inc. (CSE:GLM) (OTCQB:GOLXF)?

The funds raised will be used for advancing the Jewel Ridge property in Nevada and for general working capital.

What fees were paid to finders in the private placement by Golden Lake Exploration Inc. (CSE:GLM) (OTCQB:GOLXF)?

Finders' fees of $25,450 cash and 509,000 non-transferable finders' warrants were paid to arm's length parties.