Vanstar Completes a $102,600 Financing
31 Dicembre 2013 - 7:03PM
Marketwired
Vanstar Completes a $102,600 Financing
LA PRAIRIE, QUEBEC--(Marketwired - Dec 31, 2013) - Vanstar
Mining Resources inc. (the "Company") (TSX-VENTURE:VSR) announces
that it has completed a $102,600 non-brokered financing.
The Company sold 85.5 Flow-Through units (the "FT Units") at a
purchase price of $1,200 per FT Unit, for a total amount of
$102,600. Each FT Unit consists of 8,000 flow-through common shares
and 2,000 common shares at a price of $0.12 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 $0.15 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).
A finder's fee of $480 was paid to an arm's length party in
relation to this financing and 3 insiders participated for a total
amount of $25,200.
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.
The board of directors also granted today 50,000 stock options
to an officer of the Company at a price of $0.13. These stock
options are valid for a period of 5 years.
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.
Source: Guy MorissetteCEO 819-763-5096www.vanstarmining.com For
info: Momentum Public Relations Inc.Maxence
Gagne-Godbout450-332-6939mgagnegodbout@momentumpr.ca
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