Vanstar Mining Resources Inc.
TSX VENTURE : VSR

April 02, 2012 15:52 ET

Vanstar Completes a $216,300 Financing

LA PRAIRIE, QUEBEC--(Marketwire - April 2, 2012) - Vanstar Mining Resources Ltd. (the "Company")(TSX VENTURE:VSR) is pleased to announce the completion of a $216,300 non-brokered financing. The Company will issue 206 units at a price of $1,050 per unit. Each unit includes 10,000 common shares of the Company at a price of $0.105 per share and 10,000 common share purchase warrants. Each warrant allows for the purchase of one additional common share of the Company at the purchase price of $0.15 per common share at any time 24 months after the closing date.

These shares are subject to a 4-month minimum hold period and the financing is subject to the approval of the TSX Venture exchange. The pricing of the Unit was done with the filing of a price reservation form with the TSX when the shares were trading at $0.135.

In connection with the private placement, EMD Financial Inc. will receive a cash commission of $21,630 as well as 206,000 Finder's warrants. Each Finder's warrant allows for the purchase of one common share of the Company at a price of $0.105, for a period of 24 months from the date of TSX approval.

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

  • Guy Morissette
    CEO
    514-712-9753