TORONTO, Nov. 16 /CNW/ - Moss Lake Gold Mines Ltd. ("Moss Lake") is
pleased to announce the closing on November 15, 2007 of a non-brokered private
placement (the "Offering") of 2,470,593 common shares issued on a flow-through
basis pursuant to the Income Tax Act (Canada) (each a "Flow-Through Share") at
a price of $0.33 per Flow-Through Share and 1,599,978 units (each a "Unit") at
a price of $0.25 per Unit for aggregate gross proceeds of $1,215,290.19. Each
Unit consists of one common share (each a "Common Share") and one-half of one
common share purchase warrant (each whole warrant, a "Warrant"), each Warrant
entitling the holder thereof to acquire one Common Share upon payment of $0.40
per Common Share for a period of twenty-four months from the closing of the
Moss Lake issued 193,660 finder's fee warrants (each a "Finder's
Warrant"), each Finder's Warrant entitling the holder thereof to acquire one
Common Share upon payment of $0.25 per Common Share for a period of
twenty-four months from the closing of the Offering and paid an aggregate of
$59,950 to certain entities in connection with introductions of investors made
by the finders.
The proceeds from the Offering will be used for further development of
the Moss Lake gold property and for general corporate purposes.
All securities issued pursuant to the Offering are subject to resale
restrictions for a period of four months and one day from the date of issuance
and the Private Placement remains subject to the final approval of the TSX
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Moss Lake Gold Mines Ltd trades on the TSX Venture Exchange under the
symbol "MOK" and has 43.89 million shares issued and outstanding.
For further information:
For further information: on Moss Lake Gold Mines Ltd. please contact:
George Mannard, President or Donovan Pollitt, VP Corporate Development, 8 King
St. East, Suite 1305, Toronto, ON, M5C-1B5, Toll Free: 1-866-4-WDO-TSX Phone:
(416) 360-3743, Fax: (416) 360-7620, Email: email@example.com, Website: