Lake Shore Gold Corp. (TSX: LSG) has closed its first tranche of a previously announced flow through financing. The financing contains the issuance of 2.7 million shares at a price of $5.94 per share resulting in gross proceeds of $16 million. The tranche closing on December 30, 2009, includes the sale of 1,366,570 structured flow through shares for $8 million in total proceeds. The remainder of the financing is expected to close in January, 2010.
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About Lake Shore Gold
Lake Shore Gold is a rapidly growing mining company with large land positions on the west and east sides of the Timmins Gold Camp. The Company is carrying out an underground advanced exploration program at its 100%-owned Timmins Mine project, where it has both a shaft and a ramp, and is currently commencing advanced exploration work at the adjacent Thunder Creek property.
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