Business
Stellar announces $ 1,200,000 offering memorandum
Stellar announces $ 1,200,000 offering memorandum.
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"\n\n\n\n\nLAVAL, Nov. 18 /CNW Telbec/ - Stellar Pacific Ventures inc. announces an\noffering memorandum for a non brokerage private placement of: a minimum of\n$200,000 and a maximum of $1,200,000 financing.\n\nThe private placement pursuant to the offering memorandum consists of;\n\n(a) 1,000 units at the cost of $ 1,000.00, consisting of 80% flow-through\n and 20% common shares units, each unit comprises 3,986 purchase\n warrants, each warrant entitles its holder the right to subscribe for\n one common share at the exercise price of 0.15 $ per share for a\n period of 12 months.\n\n(b) 200 units at the cost of $ 1,000.00. Each unit comprises 10,000\n common shares and 10,000 purchase warrants, each warrant entitling\n its holder to subscribe for one common share at the exercise price of\n 0.15 $ per share for a period of 12 months.\n\nFurthermore, the company is pleased to announce the closing of a first\ntranche of $370,000.00 financing for which the company will issue, 2,276,980\nflow-through shares at 0.13 $ per share, 672,660 common shares at 0.10 $ per\nshare and 1,474,820 purchase warrants, each warrant entitling its holder the\nright to subscribe for one common share at the exercise price of 0.15 $ per\nshare during a period of 12 months.\nThe company will pay to agents: 10% cash commission of the total proceeds\nraised through them and issue 294,964 purchase warrants equivalent to 10% of\nthe number of shares issued in connection with the offering at a price of\n0.13 $ per share for a period of 12 months.\nThe proceeds of this financing will be used on exploration programs and\nworking capital.\n\n\n\"Michel Lemay\"\n\nMichel Lemay\nPresident\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this press release.\n\n\n","length":1847,"tagName":"div"}]