Montreal (pcJ News Briefs) – Lamêlée Iron Ore Ltd. (TSX-V: LIR) intends to close a non-brokered private placement of up to 1,000,000 units at $0.15 per unit for gross proceeds of up to $150,000.
Each unit will be comprised of one common share and one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share at an exercise price of $0.15 per share for a period of thirty six months from the closing date.
Net proceeds will be used for working capital, accounts payable and debts.
Lamêlée Iron Ore Ltd. is an exploration company with activities in Canada. The company’s principal property is an interest in the Meston Lake West Property located near Chibougamau, Quebec. The area covered by the claims is known for gold mineralization.
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