Business
Canstar Announces Closing of $1,000,000 Financing
TORONTO, ONTARIO--(Marketwired - Aug. 2, 2016) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Further to it
About this update from Canstar Resources Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - Aug. 2, 2016) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Further to its news release dated July 13, 2016, Canstar Resources Inc. (\"Canstar\" or the \"Corporation\") (TSX VENTURE:ROX) is pleased to announce the completion of its previously announced non-brokered private placement for gross proceeds of $1,043,795 (the \"Offering\") through the sale of 10,437,950 units (the \"Units\") at a price of $0.10 per Unit. Each Unit was comprised of one common share in the capital stock of the Corporation (\"Common Share\") and one-half (1/2) of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall entitle the holder to purchase one Common Share at a price of $0.15 per Common Share until December 31, 2017. In connection with the Offering, a finder's fee (the \"Finder's Fee\") was paid to certain eligible finders. The Finder's Fee was comprised of $6,000 in cash and an aggregate of 265,000 non-transferrable share purchase warrants (\"Finder's Warrants\"). Each Finder's Warrant, which has an expiry date of December 31, 2017, entitles the holder to acquire one Unit at an exercise price of $0.10 per Unit. The net proceeds of the Offering will be used to fund exploration on the Corporation's Kenora Gold Project located in the Kenora area of Ontario. All securities issued pursuant to the Offering are subject to a statutory four month and one day hold period expiring on December 3, 2016. On behalf of the Board of Directors, Danniel J. Oosterman, P.Geo, President & CEO Forward-Looking Statements 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. This News Release includes certain \"forward-looking statements\". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as \...