Saturn Minerals Completes Private Placement Oversubscribed
(firmenpresse) - Saturn Minerals Completes Private Placement Oversubscribed
February 29, 2012, Vancouver – Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) (“Saturn” or the “Company”) is pleased to announce that further to the Company’s news release dated February 6th, 2012, the Company has received the approval of the TSX Venture Exchange dated February 28, 2012, to close its previously announced non-brokered private placement (the “Placement”), oversubscribed by 2,400,300 units (the “Units”). Accordingly the Company increased the offering from 3,000,000 Units to 5,400,300 Units and closed the Placement of 5,400,300 Units at a price of $0.22 per Unit for a gross dollar value of $1,188,066.
Each Unit consists of one common share and one share purchase warrant (the “Warrant”). Each Warrant entitles the holder thereof to purchase one common share at $0.30 per share until February 28, 2013. If at any time after a four-month hold period ending June 29, 2012, the closing price of Saturn’s common shares on the TSX Venture Exchange is greater than $0.40 for any 10 consecutive trading days, the Company may deliver a notice to warrant holders that the Warrants will expire on thirty-first (31) day following the date of such notice and the Warrants may be exercised by the holder during this 31 day period.
In connection with the Placement the Company has agreed to pay finder’s fees of $26,048 and issue 118,400 finder’s compensation warrants to Loeb Aron & Company Ltd. and $28,702.08 and 130,464 finder’s compensation warrants to Jordan Capital Markets Inc. Each finder’s compensation warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.30 until February 28, 2013.
Loeb Aron & Co. is a London based firm specializing in mining finance authorized and regulated by the FSA and a Member of the London Stock Exchange and of Plus Markets. Jordan Capital Markets Inc. is an independent Investment Dealer established in Western Canada to service domestic, international retail, institutional, and corporate clients.
All securities issued are subject to a 4-month hold period ending June 29, 2012.
Net proceeds from the Placement will be applied towards the development of the Company’s exploration properties and provide the Company with additional working capital.
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) is a junior Canadian energy & resources company advancing a portfolio of energy and resource assets in Saskatchewan, Manitoba and British Columbia. The Company has made two bituminous coal discoveries at its Saskatoba Project since 2009, including one of the thickest coal seams encountered in Canada at 89 metres thickness. The Company also has strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration & development company active in Canada’s prairie provinces.
To learn more, please contact the Company at (604) 685-6989 or visit: www.saturnminerals.com
On Behalf of the Board of Directors
SATURN MINERALS INC.
s/ “Stan Szary”
Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Leseranfragen:
Saturn Minerals Inc.
410-890 West Pender Street
Vancouver, BC V6C 1J9
Kanada
Roger Fullerton
Corporate Communications
Tel.: +1 (952) 929-7243
E-Mail: roger(at)saturn-x.com
Datum: 29.02.2012 - 17:00 Uhr
Sprache: Deutsch
News-ID 120187
Anzahl Zeichen: 3640
contact information:
Town:
Wien
Kategorie:
Business News
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