Stelmine completes Private Placement of Flow-Through Units
27 Junio 2023 - 6:01PM
Stelmine Canada (“Stelmine” or the “Company”) (TSXV :
STH) is pleased to announce that it has closed a
non-brokered private placement (“
Offering”) of
flow-through units (the “
FT
Units”) for gross proceeds of $432,000.
The Company issued a total of 2,400,000 FT Units
at a price of $0.18 per FT Unit. Each FT Unit consisted of one
common share of the Company to be issued as a “flow-through share”
within the meaning of subsection 66(15) of the Income Tax Act
(Canada) and section 359.1 of the Taxation Act (Quebec) (each, a
“FT Share”) .
In connection with the Offering, the Company
will pay a finder’s fee of $12,960 in cash (the “Finder’s Fee”).
Payment of the Finder’s Fee is subject to the acceptance of the TSX
Venture Exchange.
All securities issued in connection with this
Placement are subject to a hold period of four months and one day
ending on October 27, 2023. The Placement is subject to the
approval of the TSX Venture Exchange. Stelmine has not filed a
material change report in the 21 days preceding the Placement other
than in relation to the Placement.
The proceeds of this Placement will be used for
the Company’s exploration work. The proceeds of the flow-through
placement will be used by the Corporation to incur Canadian
exploration expenses on the Corporation’s properties located in the
Province of Quebec and such exploration expenses will be fully
incurred on or before December 31, 2024 in accordance with the
Corporation’s undertakings to the subscribers of this private
placement.
Stock Options Granted
Stelmine has granted a total of 2,250,000 stock
options, of which 2,050,000 options were granted to directors, an
executive officer and employees of the Company, and 200,000 options
were granted to consultants of the Company. The options are
exercisable for a period of five years from the date of grant at an
exercise price of $0.20 per share. The options are subject to the
approval of the TSX Venture Exchange.
About Stelmine
Canada
Stelmine is a junior mining exploration company
pioneering a new gold district (Caniapiscau) east of James Bay in
the under-explored eastern part of the Opinaca metasedimentary
basin where the geological context has similarities to the Eleonore
mine. Stelmine has 100% ownership of metasedimentary basin where
the geological context has similarities to the Eleonore mine.
Stelmine has 100% ownership of 1,782 claims or 939 km² in this
part of northern Quebec, highlighted by the Courcy and Mercator
Projects.
Forward-looking
statements
Certain information in this press release may
contain forward-looking statements, such as statements regarding
the anticipated use and tax status of the proceeds from the
Offering, acquisition and expansion plans, availability of quality
acquisition opportunities, and growth of the Company. This
information is based on current expectations and assumptions
(including assumptions in connection with obtaining all necessary
approvals for the Offering and general economic and market
conditions) that are subject to significant risks and uncertainties
that are difficult to predict. Actual results might differ
materially from results suggested in any forward-looking
statements. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward-looking
statements unless and until required by securities laws applicable
to the Company. Additional information identifying risks and
uncertainties is contained in the Company’s filings with the
Canadian securities regulators, which filings are available at
www.sedar.com.
Cautionary
statement
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.
For further
information, contact:
Isabelle Proulx,
President and CEOStelmine |
Investor
Relations: |
Tel: 418-626-6333 |
MarketSmart
Communications Inc |
info@stelmine.com |
Adrian Sydenham |
|
Toll-free: 1-877-261-4466 |
|
info@marketsmart.ca |
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