Agoracom: Small Cap Investment - Pele Mountain Resources - Pele Mountain 2.66-million-FT-shar... PP

Discovering and developing the mineral wealth of Northern Ontario

Pele Mountain Resources is focused on the sustainable development of a rare earth processing center in Elliot Lake, Ontario, at the same location as its Eco Ridge Mine Rare Earth and Uranium Project.

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Pele Mountain 2.66-million-FT-shar... PP - 2008-12-22

posted on Dec 29, 2008 02:07PM

Pele Mountain 2.66-million-FT-share private placement

2008-12-22 16:25 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 19, 2008.

Number of shares: 2,666,000 flow-through shares

Purchase price: 12 cents per share

Warrants: 1,333,000 share purchase warrants to purchase 1,333,000 shares

Warrant exercise price: 25 cents for a two-year period

Hidden placees: Two

Insider participation: Sheldon Inwentash, two million; Steven Rukavina, 100,000; Richard M. Cooper, 50,000; Richco Waterfall Equities Ltd. (R. Cooper), 100,000