Miramichi, NB (pcJ News Briefs) – SLAM Exploration Ltd. (TSX-V: SXL) intends to close a private placement of up to 5,000,000 non-flow-through (NFT) units at $0.05 per NFT unit and up to 10,000,000 FT units at $0.05 per FT unit for gross proceeds of up to $750,000.
Each NFT unit will be comprised of one common share and one NFT common share purchase warrant. Each FT Unit will be comprised of one FT common share and one-half of one NFT common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one NFT common share at a price of $0.10 for a period of 24 months from the date of issuance.
Proceeds received from the NFT units will be used for general corporate purposes. Proceeds received from the FT units will be used to fund exploration on SLAM’s gold and base metal projects in New Brunswick.
SLAM Exploration is a project generating resource company with a portfolio of gold, base metal and lithium projects in the mineral-rich Province of New Brunswick where SLAM’s main focus is the wholly-owned Menneval gold project.
photo credit: SLAM Exploration