Pele Mountain Announces Closing of Private Placement
June 24 2014 - 05:02PM
Marketwired
Pele Mountain Announces Closing of Private Placement
TORONTO, ONTARIO--(Marketwired - Jun 24, 2014) - Pele Mountain
Resources Inc. (TSX-VENTURE:GEM)(OTCQX:GOLDF) ("Pele" or the
"Company") announced the closing of a non-brokered private
placement offering ("Offering") comprised of 700,000 units (the
"Units") at a price of $0.06 each for aggregate gross proceeds of
$42,000. Each Unit consists of one (1) common share and one (1)
common share purchase warrant (a "Warrant"), with each Warrant
exercisable to acquire one common share of Pele at $0.12 until
December 24, 2015. The subscriber was interested in but unable to
participate in the Corporation's financing that closed in May.
All proceeds raised from the sale of Units will be used by Pele
for general working capital purposes. The securities issued
pursuant to the Offering will all be subject to a four (4) month
statutory hold period commencing from the date of issuance. The
Offering is subject to TSX Venture Exchange acceptance of requisite
regulatory filings.
About Pele
Pele Mountain Resources is focused on the sustainable
development of its 100-percent owned Eco Ridge Mine Rare Earths and
Uranium Project. Eco Ridge is located in Elliot Lake, the only
Canadian mining camp to have ever achieved commercial rare earth
production. With well-understood geology and mineralogy, excellent
regional infrastructure, and strong local support, Eco Ridge is an
ideal location for the development of a safe, secure, and reliable
long-term supply of critical rare earths and uranium. Pele's shares
are listed on the TSX Venture Exchange under the symbol "GEM" and
on the OTCQX under the symbol "GOLDF".
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Common Shares Outstanding: 173,523,598
Pele Mountain Resources Inc.Al ShefskyPresident(800)
315-7353www.pelemountain.com