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| Home : Star Minerals Group Ltd. Announces Consolidation and Proposed Private Placement of Units |
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Dec 17
2013 |
Star Minerals Group Ltd. Announces Consolidation and Proposed Private Placement of Units |
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SASKATOON, SASKATCHEWAN--(Marketwired - Dec. 16, 2013) - Star Minerals Group Ltd. ("Star" or the "Company") (TSX VENTURE:SUV) announces that it intends to complete a non-brokered private placement offering of units ("Units") at a price of $0.24 per Unit for aggregate gross proceeds of up to $1,000,000 (the "Offering"). Each Unit will be comprised of three (3) common shares in the share capital of the Company ("Common Shares") issued on a "flow through" basis, as defined in the Income Tax Act (Canada) (the "Flow Through Shares"), one (1) non-flow through Common Share (the "Non-Flow Through Shares") and one half of one (1/2) Common Share purchase warrant (each whole warrant, a "Warrant"). The Offering will be completed following the completion of the Consolidation, as defined below. The price of each Unit will be based on the market price of the Common Shares on the TSX Venture Exchange following the Consolidation. Each Warrant will be exercisable for a period of two (2) years from the date of issuance at an exercise price of $0.09 for the first year and $0.105 for the second year. |
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| Source:http://www.marketwired.com/mw/release.do?id=1862833&sourceType=3 |
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