Houston Lake Mining Inc. (TSX:HLM) reported Dec. 7 that the company is proposing a non-brokered private placement offering of up to maximum of 2,000,000 common shares of the company.
The common shares are to be issued under a unit offering whereby up to a maximum of 2,000,000 units at a subscription price of $0.25 per unit are to be offered.
All of the shares and warrants issued pursuant to the private placement are subject to a four-month hold period. Completion of the private placement is subject to the final approval of the TSX. Proceeds from the financing will be used to advance Houston Lake’s 100-per-cent-owned and optioned gold properties located near Kenora.
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