Vanstar Mining Resources Inc.
TSX VENTURE : VSR

Vanstar Mining Resources Inc.

July 14, 2015 08:30 ET

Vanstar Signs Agreement for Financing

LA PRAIRIE, QUÉBEC--(Marketwired - July 14, 2015) - The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) announces the signing of a letter of intent with a US private investment fund based in Florida, for a $450,000 CDN financing at a price of $0,15 CDN per share with a warrant allowing additional share purchase at $0,25 CDN.

This financing offer does not constitute a firm underwriting commitment and there is no guarantee that it will be completed. The projected closing date is July 25. This financing is subject to the approval of the TSX Venture.

The funds will be allocated for cash flow purposes, if completed.

As previously mentioned, management is currently considering high tech opportunities, namely in mobile applications.

Regarding the Nelligan project, the management of the company has no intention to sell the project for the moment. This project recently optioned to IAMGOLD Corp, is currently under geological and geophysics exploration works. All the exploration works are paid by the Toronto based corporation.

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