Homestake Resource Corp. (TSXV:HSR,FWB:B6IH) closed its previously announced non-brokered private placement for gross proceeds of $970,500, and the first tranche of the non flow-through private placement for gross proceeds of $626,850. Homestake has raised an aggregate $1,597,350 in this financing.

As quoted in the press release:

Each flow-through Unit is priced at $0.20. Each Unit is comprised of one flow-through share and one half share purchase warrant, each whole warrant entitling the purchase of one common share at a price of $0.25 per share for 24 months. The proceeds will be utilized for Canadian exploration expenses, within the meaning of the Income Tax Act (Canada), related to the exploration during 2012-2013 of the company’s Kinskuch project in British Columbia, Canada with expense renunciations on December 31, 2012.

Each non flow-through Unit is priced at $0.15. Each Unit is comprised of one common share and one share purchase warrant, each whole warrant entitling the purchase of one common share at a price of $0.20 per share for 24 months.

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