The press release is quoted as saying;
Each whole Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.80 per share for a period of two years from the closing date.
Mountain Lake’s President and CEO, Gary Woods says:
“The investment backing of Sprott Asset Management and other institutional investors has enabled Mountain Lake to maintain a path to growth over the years, and we are particularly pleased to receive another round of financing from a group of Sprott managed funds in the midst of this current period of market volatility,” said President and CEO of Mountain Lake Gary Woods. “It is an endorsement of the potential of our projects and the progress being made on our Valentine Lake Joint Venture. The vision of leaders in the investment community is as important as the vision of any geotechnical team to insure a project matures from exploration through development to production.”