Agoracom: Small Cap Investment - Pele Mountain Resources - And More...4.16-million-... private placement

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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And More...4.16-million-... private placement - 2008-12-22

posted on Dec 29, 2008 02:10PM

Pele Mountain 4.16-million-FT-share private placement

2008-12-22 16:28 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 18, 2008.

Number of shares: 4,166,666 flow through shares

Purchase price: 12 cents per share

Warrants: 2,083,333 share purchase warrants to purchase 2,083,333 shares

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

Hidden placees: Three

Finder's fee: $32,500, plus 291,666 compensation options (each exercisable for a period of 12 months into one common share and one-half of one common share purchase warrant at the same terms as above), payable to Limited Market Dealer Inc.

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