Lalo Ventures Ltd.

Lalo Ventures Ltd.

November 17, 2005 17:03 ET

Lalo Ventures Closes Final Tranche of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 17, 2005) - Lalo Ventures Ltd. (TSX VENTURE:LAL) reports that the second and final tranche of the non-brokered private placement previously announced on September 6, 2005, and partially closed on November 8, 2005 has now fully closed. An additional 480,000 units were placed, for a total placement of 3,000,000 units at a price of $0.25 per unit for gross proceeds of $750,000. Each unit is comprised of one common share and one half of one share purchase warrant exercisable at a price of $0.40 per share for a period of 18 months. Proceeds of the placement will be used to further the Company's exploration programs on the San Juan Project located in Baja California, Mexico and for working capital. All securities issued under the private placement are subject to a four-month hold period expiring in March 2006.

The Company also announces an extraordinary meeting of shareholders will be held on December 16, 2005 at 11 am. At the extraordinary meeting, shareholders will be asked to approve a proposed name change of the Company. Further materials regarding the meeting and the matters to be approved thereat will be mailed to shareholders and made available via on November 22, 2005.

Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.

52-week range $0.175-$0.55

19.7 million Shares Outstanding

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

Contact Information

  • Lalo Ventures Ltd.
    Ari Sussman
    (416) 643-7655
    Lalo Ventures Ltd.
    Eugene Toffolo
    (604) 683-6185 or 1-877-683-6185