Source: Northern Ontario Business
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  • Hemlo Explorers (HMLO) has closed the first tranche of its non-brokered private placement for gross proceeds of approximately $1.5 million
  • Hemlo issued 4,925,332 units and 1,529,300 flow-through units
  • Proceeds will be used for the exploration of the company’s Hemlo area properties and for general corporate purposes
  • Hemlo Explorers is a Canadian-based mineral exploration company with projects in Ontario and Nunavut
  • Hemlo Explorers Inc. (HMLO) opened trading at C$0.20 per share

Hemlo Explorers (HMLO) has closed the first tranche of its non-brokered private placement for gross proceeds of approximately $1.5 million.

Hemlo issued 4,925,332 units and 1,529,300 flow-through units. 

The proceeds from the flow-through units will be used for the exploration of the company’s Hemlo area properties. Proceeds of the units will be used for general corporate purposes.

Hemlo paid cash finders fees and issued 175,326 finder’s warrants. 

All securities issued are subject to a statutory hold period expiring March 26, 2022. 

The Offering remains subject to the final approval of the TSXV Venture Exchange.

Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of projects in Ontario and Nunavut.

Hemlo Explorers Inc. (HMLO) opened trading at C$0.20 per share.

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