Stelmine Announces a Non-Brokered Private Placement
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 12/30/11 -- Stelmine Canada Ltd. ("Stelmine"), (TSX VENTURE: STH) announces a non-brokered private placement of a maximum of 200 Series A Units at a price of $1,500 and of a maximum of 300 Series B Units at a price of $1,000 resulting in gross proceeds, if fully subscribed, of a maximum of $600,000.
Each Series A Unit is composed of 10,000 flow-through common shares at a price of $0,15 per share and 10,000 common share purchase warrants, each purchase warrants entitling its holder thereof to purchase one additional common share of the Issuer at a price of $0,20 per share for a period of twelve months and each Series B Units is composed of 20,000 common shares at a price of $0.05 per share and 20,000 common share purchase warrants, each purchase warrant entitling its holder thereof to purchase one additional common share at a price of $0.10 per share for a period of twelve months.
The flow-through shares, the common shares and the warrants acquired by the placees will be subject to a hold period of four months plus one day from the closing date in accordance with applicable securities legislation. Placees under the offering are to include directors and officers of the Company. The Company intends to use those proceeds raised to incur exploration expenditures on Stelmine's property portfolio located in the Province of Quebec, and for general working capital.
The private placement is a related party transaction for the purposes of TSX Venture Exchange Policy 5.9, however is exempt from the minority approval and valuation requirements of such policy.
The private placement is subject to the approval of the TSX Venture Exchange and is expected to close on or before December 30, 2011.
Stelmine is a junior mining exploration company, the common shares of which are listed on the TSX Venture Exchange.
Neither 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 release.
Contacts:
Michel Lemay
514-866-8209
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Datum: 30.12.2011 - 14:57 Uhr
Sprache: Deutsch
News-ID 100298
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contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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