August 2012 | Houston Lake Mining NEWS 1 Houston Lake Mining Announces Closing of Oversubscribed Financing with a Second Tranche of $100,000 from Flow‐Through Financing
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Houston Lake Mining Announces Closing of Oversubscribed Financing with a Second Tranche of $100,000 from Flow‐Through Financing
Sudbury, Ontario –August 21, 2012 ‐ Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration
| company which is actively exploring for rare metals and currently | focusing on its 100% owned and | |
|---|---|---|
| optioned Pakeagama Rare Metals Project in northwestern Ontario, Canada | . HLM today reported the |
closing of a non‐brokered private placement offering of 2,000,000 units ("Units") of the Company priced
| at $0.05 per Unit, for total gross proceeds of $100,000. The | private placement financing announced July |
| 17th, 2012 was oversubscribed by $100,000 with the closing of this second tranche. |
Each Unit consists of one (1) Common Share of the Company (to be issued on a "flow‐through" basis pursuant to the Income Tax Act (Canada) (a "Flow‐Through Share") and one (1) share purchase warrant (the "Warrant") (each full Warrant shall entitle the holder thereof to purchase one (1) additional common share of HLM at an exercise price of $0.12 for a 24 month period from closing (the "Offering").
All of the Flow‐Through Shares and Warrants issued pursuant to the private placement are subject to a 4‐month hold period. Proceeds from the financing will be used to advance Houston Lake’s 100% owned and optioned Pakeagama Rare Metal project located in northwestern Ontario.
No finder’s fees or options were necessary for the offering.
About Houston Lake Mining Inc.
HLM is a mining exploration company that is actively exploring for the rare metals cesium, tantalum, lithium and currently focusing on its 100% owned and optioned Pakeagama Rare Metals Project in northwestern Ontario, Canada. HLM has a total of 58,119,056 common shares issued and outstanding. For additional information, please visit www.houstonlakemining.com.
Company Contact Information
Henry J. Kloepper, CEO 2892 White Street Val Caron, ON.
P3N 1B2 CANADA T. +001 705.897.7622 F. +001 705.897.7618
August 2012 | Houston Lake Mining NEWS 1
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Forward‐looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed “forward‐looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward‐looking statements. For more information on the Company, Investors should review the Company’s registered filings what are available at www.sedar.com.
August 2012 | Houston Lake Mining NEWS 2