Copper Lake Closes First Tranche of Private Placement for $2.3 Million

Copper Lake Resources has closed the first tranche of its non-brokered private placement, raising $2.3 million in gross proceeds.

The company sold a total of 15,625,031 units at a price of $0.15 per unit.

Each unit consists of one common share and one warrant to acquire an additional share for $0.20 within the next two years.

The net proceeds will be used for exploration at the Marshall Lake project and general working capital purposes.