Perilya Limited

Published : February 21st, 2008

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Keywords :   Diamond | Finra | Gold | South Africa |

Mountain Lake Announces Private Placement

$1,200,000 to be raised through Scarsdale Equities, LLC

Halifax, Nova Scotia ??? February 20, 2008 ??? Mountain Lake Resources Inc. (TSX-V: MOA) (???Mountain Lake??? or the ???Company???) is pleased to announce that Scarsdale Equities, LLC (???Scarsdale???) has been engaged as the exclusive agent in connection with a brokered private placement (the ???Offering???) to raise $1,200,000.  Under the terms of the Offering, Scarsdale will place 2,000,000 common share units (the ???Units???) of the Company. 

Each Unit will be offered at a price of $0.60 and will consist of one common share and one-half of one common share purchase warrant, with each full warrant exercisable at a price of $0.75 per common share for a period of 24 months following the close of the offering.

Upon closing of the Offering, Scarsdale will receive a commission of 7% of the gross proceeds raised payable in Units of the Company on the same terms as the Units of the Offering. 

The net proceeds from the Offering will be used to finance the Company???s 2008 exploration and development programs, and for general working capital purposes. 

The offering is subject to TSX Venture Exchange approval.  All securities issued in connection with this offering will be subject to a four-month hold period in accordance with securities regulation.

About Scarsdale Equities, LLC

Scarsdale Equities LLC is a registered broker/dealer, SPIC and FINRA member firm headquartered in New York.  The firm serves as a placement agent in private securities transactions and participates in public offerings both as an underwriter and in selling groups. Corporate finance activities are concentrated in mining, energy and energy services, and health care.  For more information visit: www.scarsdale-equities.com

About Mountain Lake Resources Inc.

Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified junior mining and exploration company whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties.  Current projects include: a 100% interest in the Bobby???s Pond Base Metal Project; the Valentine Lake Gold Project, in which Richmont Mines Inc. is earning a 70% interest; and a 16.2% stake in Etruscan Diamonds Limited, a producing Diamond miner in South Africa.  For more information visit: www.mountain-lake.com

For corporate, media, or investor inquiries, please contact:

Greg Lytle,

Lytle & Associates 

North America toll-free: (866) 285-5817

International & Vancouver: (604) 839-6946

Email: info@mountain-lake.com

ON BEHALF OF THE BOARD OF DIRECTORS

s/???Gary Woods???

President & CEO

 

 

 

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Data and Statistics for these countries : South Africa | All
Gold and Silver Prices for these countries : South Africa | All

Perilya Limited

PRODUCER
CODE : PEM.AX
ISIN : AU000000PEM8
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Perilya Ltd. is a zinc and lead producing company based in Australia.

Perilya Ltd. produces zinc, lead, silver in Australia, develops cobalt, copper and silver in Australia, and holds various exploration projects in Australia.

Its main assets in production are BROKEN HILL - POTOSI and BROKEN HILL in Australia, its main asset in development is MOUNT OXIDE in Australia and its main exploration properties are ROCKHAMPTON, BROKEN HILL EXTENDED, BROKEN HILL SOUTHERN EXTENSIONS, FLYING DOCTOR, NORTHERN LODES, PINNACLES (BROKEN HILL EXTENDED), FLINDERS and BROKEN HILL DISTRICT in Australia and TAMPANG in Malaysia.

Perilya Ltd. is listed in Australia and in Germany. Its market capitalisation is AU$ 184.1 millions as of today (US$ 162.7 millions, € 119.3 millions).

Its stock quote reached its highest recent level on January 05, 2007 at AU$ 5.80, and its lowest recent point on November 28, 2008 at AU$ 0.09.

Perilya Ltd. has 526 075 563 shares outstanding.

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Annual reports of Perilya Limited
2007 Annual Report
2006 Annual Report
Project news of Perilya Limited
2/27/2009(Mount Oxide)Increase in Resource for Mount Oxide Copper Project
1/21/2009(Broken Hill)Takeovers Panel Backs Perilya
8/21/2008(Broken Hill - Potosi)Broken Hill Operation
6/13/2008(Broken Hill)Significant new resources defined at Henry George
Corporate news of Perilya Limited
12/1/2010Announces Extension of Offer by Perilya
7/20/2009Silver buy-back transaction announcement
7/16/2009 Lowers Cash Costs of Production Via The Termination Of Silv...
1/22/2009WELCOMES PANEL DECISION, WITHDRAWAL
12/29/2008ZHONGJIN UPDATE
12/19/2008Takeovers Panel Media Release
12/9/2008Secures Watershed Alliance with Zhongjin
12/8/2008ADVISES SHAREHOLDERS TO TAKE NO ACTION ON CBH OFFER
11/14/2008CBH CONFIRMS PERILYA RESOLUTIONS WILL NOT TRIGGER OFFER COND...
10/2/2008Unsolicited Takeover Offer From CBH Resources Limited
8/29/2008 Full Year Report
8/19/2008 Excellent New Copper and Cobalt Intercepts and Metallurgica...
7/22/2008and CBH terminate Merger Implementation Deed
6/12/2008New Resource for Flinders increases confidence in a low cost...
2/21/2008Response to Media Article
12/21/2007Notice of ceasing to be a substantial holder
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AUSTRALIA (PEM.AX)FRANKFURT (PY5.F)
0.350+0.00%0.229+4.57%
AUSTRALIA
AU$ 0.350
12/19 13:54 -
0%
Prev close Open
0.350 0.345
Low High
0.345 0.350
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.350 -%
Volume 1 month var.
188,781 -%
24hGold TrendPower© : 34
Produces Lead - Silver - Zinc
Develops Cobalt - Copper - Silver
Explores for Copper - Gold - Lead - Silver - Zinc
 
 
 
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