Spirit Lake Explorations has raised $100,000 through the private placement of 58,825 shares at a price of $1.70 per share. There are warrants with this stock to purchase an equal number of shares at $2, good until Dec 23.
The company holds a group of 41 contiguous claims in Jacobson Twp., 20 miles northeast of Wawa, Ont., on which it plans to launch a $700,000 exploration program early in the New Year, reports John V. Tokarsky, secretary. Further financing is being arranged.
The company’s shares are traded on the new COATS system under the symbol SLEX.
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