Stelmine Canada Ltd.

Stelmine Canada Ltd.

January 05, 2015 09:16 ET

Stelmine Closes $72,500 Private Placement

MONTRÉAL, QUÉBEC--(Marketwired - Jan. 5, 2015) - Stelmine Canada Ltd. ("Stelmine"), (TSX VENTURE:STH) announce the closing of a private placement of: $72,500.

The private placement consist of:

7 units "A" (the "Units A"), at a price of $5,000.00 per Unit, each Unit "A" consist of 100,000 flow-through common shares at a price of $0.05 per flow-through for a gross proceed of $35,000.00

15 units "B" (the "Units B"), at a price of $2,500.00 per Unit, each Unit "B" consist of 50 000 common shares at a price of $0.05 per and 50 000 share purchase warrants. Each share purchase warrant shall entitle its holder thereof to acquire one additional common share of Stelmine at a price of $0.05 for a period of 12 months from the closing date for a gross proceed of $37,500.00.

1 insider has participates to this private placement of a gross proceed of: $15,000.00.

All securities issued pursuant to the private placement are subject to a four-month and one day hold period. The private placement and the payment of the cash commissions are subjects to the final approval of the TSX Venture Exchange.

Proceeds of the private placement will be applied toward exploration work on the Company's properties and towards meeting short term operating working capital requirements.

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

  • Michel Lemay