Bear Lake Gold LTD NEW : Aus 2 mach 1!
Orders Volume§Price Range
9 205,0000.110-0.140
ASK§
Price Range Volume Orders
0.145-0.180 176,000 9§
Orders Volume§Price Range
14 300,0000.100-0.150
ASK§
Price Range Volume Orders
0.165-0.215 90,000§5
15 319,000 0.105-0.125
§
ASK Price Range Volume Orders
0.150-0.200 88,000 7
Orders Volume§Price Range
8 91,5000.115-0.140
ASK§
Price Range Volume Orders
0.160-0.235 162,000 10§
10 296,500 0.055-0.110
§
ASK Price Range Volume Orders
0.140-0.175 88,500 6
BEAR LAKE GOLD LTD. ANNOUNCES PRIVATE PLACEMENT TO RAISE UP TO $3,500,000
Bear Lake Gold Ltd. plans to complete a non-brokered private placement of its securities composed of units and flow-through units priced at 15 cents per unit or flow-through unit to raise up to $3.5-million.
Each unit will consist of one common share of Bear Lake and one whole common share purchase warrant (a "Warrant"), with each Warrant exercisable to acquire one common share at $0.20 for a period of 24 months from the closing date of the Financing. Each Flow-through Unit will consist of one common share of Bear Lake issued on a flow through basis (a "FT Share") and one-half of one Warrant. The Warrants will be subject to a right of accelerated expiry at the Company's option where the closing price of its common shares on the TSX Venture ("TSXV") has exceeded $0.50 for twenty consecutive trading days at any time after six months from closing of the Financing. Approximately 18% of the Financing is being subscribed for by insiders of Bear Lake.
The Company intends to use the gross proceeds of the sale of FT Shares for exploration on its Larder Lake project. The Company plans to use the net proceeds from the balance of the Financing for exploration and general corporate purposes.
Closing of the Financing is subject to certain conditions, including without limitation the receipt of all necessary corporate and regulatory approvals, including that of the TSXV. Closing of the Financing is expected to take place on or about August 23, 2011.
The Company may pay finder's fees to qualified finders in connection with the Financing, in accordance with applicable securities laws and the policies of the TSXV.
All securities issued in conjunction with the Financing will be subject to a four-month hold period under applicable securities laws.
We seek Safe Harbor.