Saturn Minerals Announces Private Placement
(firmenpresse) - Saturn Minerals Announces Private Placement
Vancouver, September 2, 2011 -- Saturn Minerals Inc. -- SMI: TSX.V ("Saturn" or the "Company") announces it will undertake a non-brokered Private Placement (the "Placement") consisting of 1,700,000 flow-through units (the "FT Units") at a price of $0.30 per FT Unit, and 2,000,000 non flow-through units (the "NFT Units") at a price of $0.25 per NFT Unit, for a gross aggregate dollar value of $1,010,000.
Each FT Unit consists of one flow-through common share (the "FT Shares") and one-half non flow-through share purchase warrant (the "FT Warrants"). Each full FT Warrant will entitle the holder to purchase one additional non flow-through common share, exercisable at a price of $0.40 per share for a period of 12 months from the date of issue of the FT Warrant. The FT Shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).
Each NFT Unit consists of one non flow-through common share (the "NFT Shares") and one-half non flow-through share purchase warrant (the "NFT Warrants"). Each full NFT Warrant will entitle the holder to purchase one additional non flow-through common share, exercisable at a price of $0.35 per share for a period of 12 months from the date of issue of the NFT Warrant.
All the warrants are subject to an accelerated expiry if at any time after an initial 4 month hold period, the closing price of Saturn's common shares on the TSX Venture Exchange exceeds $0.50 for any 10 consecutive trading days, in which event the warrant holder will be given notice that the warrants will expire 31 days following the date of such notice. The warrants may be exercised by the holder during the 31-day period from the notice date to the accelerated expiry date.
All securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange (the "TSX"). This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities. A finder's fee may be payable in accordance with the policies of the TSX. Proceeds from the flow-through portion of the Placement will be applied to Saturn's exploration activities on it's Saskatoba Project and the proceeds from the non flow-through portion of the Placement will be applied to general working capital.
About Saturn Minerals Inc.
Saturn Minerals Inc. (SMI: TSX.V) 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 88 metres thickness. The Company continues to build strategic relationships throughout eastern Saskatchewan to pursue new opportunities and advance current projects in the Western Canadian Sedimentary Basin.
To learn more, please visit the Company's website at: www.saturnminerals.com.
SATURN MINERALS INC.
s/ "Stan Szary"
President
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: 05.09.2011 - 08:18 Uhr
Sprache: Deutsch
News-ID 62149
Anzahl Zeichen: 3535
contact information:
Town:
Wien
Kategorie:
Business News
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