Margaret Lake arranges $900,000 private placement

Executive Summary

• Margaret Lake Diamonds Inc. announced a non‑brokered private placement of up to 9 million units at C$0.10 per unit, targeting gross proceeds of up to $900,000.
• Each unit consists of one common share and one transferable warrant allowing purchase of an additional share at C$0.15 for 36 months; warrants include an acceleration clause tied to the share price.
• Net proceeds will be used to fund exploration activities and general corporate purposes, with related‑party participation permitted under MI 61‑101.

Key Details

• Placement Size: Up to 9 million units.
• Unit Price: C$0.10 per unit; total gross proceeds up to $900,000.
• Unit Composition: 1 common share + 1 transferable common share purchase warrant.
• Warrant Terms: Right to buy one additional share at C$0.15 per share for 36 months from issuance.
• Acceleration Provision: If, after 4 months + 1 day, the weighted‑average daily trading price on the Canadian Securities Exchange (or other market) reaches ≥ C$0.18 for five consecutive trading days, the company may accelerate expiry; unexercised warrants then expire 30 days after acceleration notice.
• Related‑Party Participation: Directors and officers may acquire securities; transaction treated as related party under MI 61‑101 but exempt from formal valuation and minority shareholder approval.
• Use of Proceeds: Allocation toward exploration activities and general corporate purposes.
• Hold Period: All securities subject to a hold period of 4 months + 1 day per applicable securities legislation.
• Finder’s Fees: May be payable in accordance with TSX‑V regulations.

Notable Quotes

(No CEO/President quotes provided in the release.)