Golden Lake Exploration Financing Fully Subscribed

VANCOUVER, BC / ACCESSWIRE / September 6, 2024 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) reports that the private placement announced on September 5th, 2024, is now fully subscribed. The financing arranged is a non-brokered private placement of up to 15 million units at a price of $0.05 per unit for aggregate gross proceeds of $750,000.00.

Each unit will be comprised of one common share and one transferable common share purchase warrant. Each whole warrant will entitle the subscriber to purchase one warrant share for a 36-month period after the closing date at an exercise price of $0.07 per share. The net proceeds will be used to advance the company’s Jewel Ridge gold property near Eureka, Nevada and for general working capital purposes.

Mike England, CEO of Golden Lake, stated, "We are very pleased with the reaction to our financing announcement. These funds enable us to drill the first phase of high priority holes on our Jewel Ridge project in Nevada. We expect drilling to commence at the end of this month and will issue a press release confirming details once this financing closes at the end of next week."

Shares issued will be subject to a four-month hold period according to Canadian securities laws. Finder's fees may be payable, subject to Canadian Securities Exchange policies.