MONTRÉAL, QUÉBEC--(Marketwired - July 6, 2016) - Stelmine Canada Ltd. (TSX VENTURE:STH) announces a non-brokered private placement of a maximum of 12,000,000 common shares at a price of $0.05 per share resulting in gross proceeds, if fully subscribed, of a maximum of $600,000.
The common shares will be subject to a hold period of four months plus one day from the closing date in accordance with the 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 finance Stelmine's activities, and for general working capital.
A portion of the private placement is a related party transaction for the purposes of TSX Venture 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.
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.
Contact Information:
(514) 715-7387