Vanstar Completes a $322,500 Financing
04 Febrero 2014 - 8:15AM
Marketwired
Vanstar Completes a $322,500 Financing
LA PRAIRIE, QUEBEC--(Marketwired - Feb 4, 2014) - Vanstar Mining
Resources inc. (the "Company") (TSX-VENTURE:VSR) announces that it
has completed a $322,500 non-brokered financing.
The Company sold 215 Flow-Through units (the "FT Units") at a
purchase price of $1,500 per FT Unit, for a total amount of
$322,500. Each FT Unit consists of 8,000 flow-through common shares
and 2,000 common shares at a price of $0.15 per share and 5,000
common share purchase warrants. Each warrant allows the holder to
purchase one additional common share in the capital of the Company
for a period of 12 months from the date of issuance, at a purchase
price of $0.20 per share.
Proceeds of the FT Units will be used for the continuation of
exploration of the Nelligan property in Quebec. The expenses will
constitute flow-through mining expenditure as described in
subsection 127(9) of the Income Tax Act (Canada); and will qualify
for inclusion in both: the exploration base relating to certain
Quebec exploration expenses, and the exploration base relating to
certain Quebec surface mining exploration expenses as these terms
are defined in the Taxation Act (Quebec).
No finder's fee was paid in relation to this financing.
The securities issued as part of this financing will be subject
to a minimum hold period of 4 months and a day and are subject to
the approval of 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.
Guy MorissetteCEO819-763-5096www.vanstarmining.com
Vanstar Mining Resources (TSXV:VSR)
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