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TORONTO, ONTARIO--(Marketwired - July 4, 2013) - Pele Mountain Resources Inc. (TSX VENTURE:GEM) (OTCQX:GOLDF) ("Pele" or the "Company") is pleased to announce that it has closed the second tranche of a non-brokered private placement offering (the "Offering") comprised of 507,143 flow-through units (the "FT Units") at a purchase price of $0.07 per FT Unit for aggregate gross proceeds of $35,500 and 1,200,000 units (the "Units") at a price of $0.05 each for aggregate gross proceeds of $60,000. Each FT Unit consists of one common share and one-half of one common share purchase warrant (a "FT Warrant"), with each whole FT Warrant exercisable to acquire one common share of Pele at $0.15 until July 4, 2014. Each Unit consists of one common share and one common share purchase warrant (a "Warrant"), with each Warrant exercisable to acquire one common share of Pele at $0.10 until January 4, 2015. |
