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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 18, 2016) - Lara Exploration Ltd. ("Lara" or the "Company") (TSX VENTURE:LRA) is pleased to report that it has completed a non-brokered private placement financing raising $3,000,000 by the issuance of 2,400,000 units at $1.25 per unit. Each unit consisted of one common share and one half of a non-transferable common share purchase warrant. Each full warrant entitles the holder to purchase an additional common share at $1.85 for two years. If, after four months from closing, the closing price of the Company's shares on the TSX Venture Exchange is $2.50 or greater for any period of 10 consecutive trading days, the Company may, by news release issued within five trading days thereof, accelerate the expiry of the warrants to the 21st trading day after such news release. |
