Downsview, Ont.-based Flint Rock Mines (VSE) says it is seeking approval for a $105,000 flow- through share issue for exploration at a property in the Larder Lake, Ont., region.
Flint Rock says the issue will consist of 10.5 units at $10 per unit entitling the subscriber to 33,333 shares at the equivalent price of 30 cents per share.
The proceeds will fund a geophysical survey and diamond drilling on Flint Rock’s 12-claim group in Teck and Grenfell twps.
Although drilling at Flint Rock’s Shabu Lake property in northwestern Ontario was curtailed recently due to constant drill breakdowns, additional geophysical work is scheduled for the summer months when access is more economical.
Pending approval by the Vancouver Stock Exchange, the company recently granted newly appointed director Peter George a management stock option for 20,000 shares at 24 cents per share.
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