TSX Venture Top Percentage Gainers: (SPH-H), (LK), (FDR-WT), (FGF)
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Visit: Sphere Resources Inc.
New York, New York - March 1, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top percentage gainers on the TSX Venture for March 1st, 2013.
Sphere Resources Inc., (TSXV:SPH-H) trading at $0.015 rose by $0.010 or 200.00% on a volume of 260,000 shares, making it today's top percentage gainer on the TSX Venture.
Sphere Resources Inc was pleased to announce the offering of up to $10.0 million of five year senior secured debt instrument through a private placement. The debt instrument has an interest rate of 6.5% payable annually. All the assets of the Company will be secured under the debt instrument. The Company anticipates completing the placement over the next two months. Funds raised will be used to carry out drilling programs on both the Canadian and US properties in which the Company has interests. The injection of new capital will also provide working capital for the Company and its 52% owned affiliate, Spartan Gold Ltd.
Lakeland Resources Inc., (TSXV:LK) trading at $0.120 gained $0.060 or 100.00% on a high volume of 1,544,500 shares.
Lakeland Resources Inc. was pleased to announce that it has entered into a letter agreement dated February 26, 2013, with 877384 Alberta Ltd. for the exclusive rights to acquire eight uranium projects located within the Athabasca Basin of northern Saskatchewan and Alberta.
The Athabasca Basin is host to some of the world's largest and richest high-grade uranium deposits; and as evidenced by several recent discoveries, is considered by the Company to be significantly prospective and underexplored.
Under the terms of the letter agreement, Lakeland has until April 30, 2013 to negotiate the purchase of the projects. The purchase price remains to be finalized and will depend on the results and recommendations of a NI 43-101 report on the properties currently in process. It is expected that the Company will pay in the range of 7,500,000 shares and some cash, plus a royalty to the sellers.
Flinders Resources Limited WTS, (TSXV:FDR-WT) trading at $0.100 moved up $0.040 or 66.67% on a volume of 54,500 shares.
Capital DGMC Inc., (TSXV:FGF) trading at $0.145 gained $0.055 or 61.11% on a volume of 10,000 shares.
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