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  • Lara Exploration (LRA) has completed a non-brokered private placement financing for gross proceeds of $4 million
  • The company issued 6,153,846 units at $0.65 per unit
  • Proceeds will be used to further the company’s mineral property acquisition and exploration activities and for general corporate purposes
  • Lara is an exploration company that explores prospects through joint-partnerships, minimizing shareholder risk
  • Lara Exploration Ltd. (LRA) opened trading at C$0.74

Lara Exploration (LRA) has completed a non-brokered private placement for gross proceeds of $4 million.

The company issued 6,153,846 units at $0.65 per unit. Each unit consisted of one common share and one half of a non-transferable common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at $1.00 until June 17, 2025.

Warrants issued are subject to an acceleration clause.

Finders’ fees were paid to Haywood Securities Inc. and Primary Capital Inc. 

All securities issued are subject to a statutory hold period ending October 18, 2022.

Proceeds will be used to further the company’s mineral property acquisition and exploration activities and for general corporate purposes.

Lara is an exploration company focused on minimizing shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile.

Lara Exploration Ltd. (LRA) opened trading at C$0.74.

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