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TORONTO, ONTARIO--(Marketwire - Oct. 6, 2010) - Pele Mountain Resources Inc. (TSX VENTURE:GEM) ("Pele" or the "Company") is pleased to announce that it has closed the final tranche of a non-brokered private placement offering (the "Offering") comprised of 2,250,000 units (the "Units") at a price of $0.16 each for aggregate gross proceeds of $360,000, with each Unit consisting of one common share and one common share purchase warrant (a "Warrant"), and 4,600,000 flow-through units (the "FT Units") at a purchase price of $0.18 per FT Unit for aggregate gross proceeds of $828,000, with each FT Unit consisting of one common share and one-half of one common share purchase warrant (a "FT Warrant"). Each Warrant is exercisable to acquire one common share of Pele at $0.25 until October 6, 2012, and ea |
