LaSalle closes Initial Tranche of Private Placement
LaSalle Exploration Corp. has announced the closing of the initial tranche of the private placement of Units announced July 13, 2021. To date a total of $1,296,000 has been raised through the issuance of 8,100,000 Units at $0.16 per Unit, each comprised of one common share and one-half common share purchase warrant, with each whole warrant being exercisable into one common share for 24 months from issuance at $0.24 per share. The shares and warrants issued in the Offering will be subject to a four-month resale hold period in Canada ending November 28th, 2021.
As announced July 13, 2021, the Company has agreed to apply $500,000 of the $1,000,000 invested by Crescat Portfolio Management LLC. on exploration of the Company's Egan Property in Ontario. The remainder of the funds will be used for exploration work on the Company's properties, and for general corporate purposes.
"We are extremely pleased to welcome Crescat as a significant new shareholder to LaSalle. This financing will provide LaSalle with the resources to escalate our exploration campaign at Egan while we continue to advance the Radisson and Blakelock properties," said Ian Campbell, President and CEO.
The Company has also granted Crescat the right to participate in any future financings in order to maintain its percentage interest in the Company as at the date of the future financing, for so long as Crescat holds at least 3% of the outstanding shares of the Company.
A finder's fee of 6% cash and 6% warrants is payable to GloRes Securities Inc., and Marco Polo Securities Inc. in respect of their assistance in placing $1,120,000 of this tranche of the Offering.
About LaSalle Exploration Corp.:
LaSalle Exploration Corp.is an exploration company focused on less explored districts of the Abitibi, recognized for mining investment based on mineral potential, policy and success, and the developing Eeyou Itschee-James Bay region in Québec. LaSalle Exploration Corp. is listed on the Toronto Venture Exchange ("TSX-V") under the symbol "LSX".
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