The first 'wave' of this PP was for 5MM$ non-FT shares, intended for explorations of both Ontario + Québec properties.

Now, the PP is for 1.1MM$ non-FT shares and 8.7MM$ FT shares. A rather huge switch to Flow-trough placement, and ALL the FT proceed is for Québec properties.

My understanding is that there were high demand for Flow-trough investment from Québec taxpayers. (I suspect Joe Dwek to be around this FT offering). Quebec deduction for eligible FT expenses in certain specific locations is 150% - assuming Fancamp claims in Québec are in OK locations.

Almost 10MM$ fresh exploration money, at a 35% premium over market price is not so bad a thing to cope with while we wait for iron news!

GLTA.

BaBe.

(I got in the non-FT portion of this PP, even at these numbers, to have the chance to get the 90 cents warrants. Greedy I am, I know, I know...!)