The Loon Lake property is situated at the western end of the Mishibishu Lake greenstone belt near Wawa, Ont.
The private placement involves Windarra Minerals (VSE), which has agreed to subscribe to 200,000 flow-through shares of Mishibishu at 50 cents per share. This additional investment in Mishibishu brings Windarra’s stake in that company to 19.1%. Under the agreement, a 30% CEIP rebate will accrue to Mishibishu while the remaining flow-through deductions will accrue to Windarra.
The funds will be applied towards the Loon Lake project where a $250,000 program is under way. Mishibishu holds an option to earn a 49% interest in the property from Granges Exploration (TSE).
]]>
Be the first to comment on "Mishibishu, Windarra flow-through deal"