Business
Stellar closes $ 275,000 private placement
Stellar closes $ 275,000 private placement.
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"\n\n\n\n\nLAVAL, July 20 /CNW/ - Stellar Pacific Ventures Inc. \"Stellar\" has closed\nfirst tranche of private placement of 275 Series A units for gross proceeds of\n$275,000.\nEach Series A unit consists of 4,250 flow-through common shares at a\nprice of $0.20 per share for a total of $850 and 750 common shares at a price\nof 20 cents per share for a total of $150; and 750 common share purchase\nwarrants of Stellar. Each warrant entitles its holder thereof to subscribe for\none additional common share at a price of $0.25 at any time for a period of 18\nmonths after the date of closing.\nA commission of 10 per cent of the gross proceeds raised under this\noffering is payable to certain agents which acted as such pursuant to the\noffering memorandum. The agent will also receive agent's options equal in\nnumber to 10 per cent of the number of common shares sold under the private\nplacement. Each agent's option will entitle the holder thereof to purchase one\ncommon share of Stellar at an exercise price of $0.20 until July 19, 2007.\nThe securities issued under this private placement will be subject to a\nfour-month hold period.\nThe proceeds of the private placement will be used to finance exploration\nactivities and incur Canadian exploration expenditures (CEE) on the Vassan\nproperty, and for general working capital working purposes.\n\nStellar Pacific Venture Inc. is a junior mining exploration company\nlisted on the TSX-V whose primary objective is to develop and bring into\nproduction viable gold deposits.\n\n\"Michel Lemay\"\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":1732,"tagName":"div"}]