Vanstar Mining Resources Inc.

Vanstar Mining Resources Inc.

December 21, 2015 08:30 ET

Vanstar Arranges a Financing for a Maximum of $200,000

LA PRAIRIE, QUEBEC--(Marketwired - Dec. 21, 2015) - Vanstar Mining Resources inc. (the "Company") (TSX VENTURE:VSR) announces that it is offering a non-brokered financing for up to $200,000.

The Company is offering a maximum of 200 Flow-Through units (the "FT Units") at a purchase price of $1,000 per FT Unit, for a maximum amount of $200,000. Each FT Unit consists of 20,000 flow-through common shares at a price of $0.05 per share and 10,000 common share purchase warrants. Each warrant allows the holder to purchase one additional common share of the Company for a period of 12 months from the date of issuance, at a purchase price of $0.055 per share.

The funds raised 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).

The securities to be 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.

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