02:19:11 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



McLaren Resources Inc
Symbol MCL
Shares Issued 30,244,281
Close 2017-01-17 C$ 0.065
Market Cap C$ 1,965,878
Recent Sedar Documents

McLaren increases private placement to $300,000

2017-01-18 19:08 ET - News Release

An anonymous director reports

MCLAREN RESOURCES INCREASES FINANCING TO $300,000

McLaren Resources Inc. has increased the financing previously announced on Jan. 5, 2017, to $300,000 from $200,000. The non-brokered private placement financing consists of $125,000 of common share units, and flow-though units in the amount of $175,000, for aggregate gross proceeds of $300,000.

The company has issued a total of 2.5 million common share units at a price of five cents per unit and has issued 3.5 million flow-through units at a price of five cents per unit. Each common share unit consists of one common share and one common share purchase warrant, which entitles its holder to purchase one common share in the capital of the company at an exercise price of 10 cents per share for a period of 24 months from the date of issuance. Each flow-through unit consists of a common share issued on a flow-through basis and one-half of a common share purchase warrant with an exercise price of 10 cents per common share for a period of 24 months from the date of issuance.

Gross proceeds from the flow-through units will be used by the company for exploration expenditures on its properties located in the Timmins gold district in Northern Ontario. The proceeds from the common share units will be used for general corporate purposes.

In connection with the financing, McLaren paid finders' fees by way of an issuance of 280,000 common shares at a value of five cents per share and also paid $7,000 in cash.

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