Welcome!

Web 2.0 Authors: Elizabeth White, Roger Strukhoff, Jason Bloomberg, Brian Lavallée, Aria Blog

News Feed Item

McLaren Raises Exploration Funds

TORONTO, ONTARIO -- (Marketwire) -- 12/31/12 -- McLaren Resources Inc. ("McLaren") (CNSX:MCL)(FRANKFURT:3ML) is pleased to announce that it has completed a $200,000 non brokered private placement financing consisting of 2,000,000 Flow-Through Units.

The financing was made pursuant to exemptions from the prospectus requirements of the applicable securities laws consisting of 2,000,000 Units issued on a "flow-through" basis (the "Flow-Through Units") at a price of $0.10 per Flow-Through Share.

Each Unit is comprised of one Flow-Through common share in the capital of McLaren and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire an additional common share at an exercise price of $0.20 per share for a period of 18 months. All securities issued will be subject to a hold period of four months and one day.

The gross proceeds from the Flow-Through Shares will be used by McLaren to continue exploration and development on its gold properties located in Timmins, Ontario.

McLaren Resources Inc. is a Canadian based junior exploration company engaged in acquiring, exploring and developing resource properties in Canada.

For more information visit our web site at www.mclarenresources.com.

Certain statements contained in this press release constitute "forward-looking statements". These statements are based on current expectations of management, however are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. The Company does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws

Shares: 27,094,281

The Canadian National Stock Exchange has neither approved, nor disapproved on the contents of this press release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.