Bateman Bay Mining reports it has raised $150,000 through a private placement, which will be used to provide working capital for company operations. The private placement covers acquisition by the investor of 500,000 Bateman shares, at 30 cents per share, and a warrant to purchase 500,000 shares at 40 cents a share, for a period of one year.
In addition, Bateman says, it has an agreement in principle to acquire a 100% interest in 12 claims in the Hemlo area of Ontario, abandoned by the company’s predecessor management in 1984. The claims are located about one mile west of Theresa Lake.
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