Business
Starfire closes second tranche of private placement
Starfire closes second tranche of private placement.
About this update from Sandfire Resources America Inc.
[{"type":"text","content":"\n\n\n\nTSXV: SFR\n\n\nVANCOUVER, July 18 /CNW/ - Starfire Minerals Inc. (TSXV: SFR) is pleased\nto announce that it has now completed the second tranche closing of its\nprivate placement. Of the total gross proceeds of $2,247,449.50 raised under\nthis financing, $1,067,350 was raised under the first tranche closing (refer\nto news release of July 13, 2007) and $1,180,099.50 was raised under the\nsecond tranche closing. Accordingly, pursuant to the second tranche closing,\nthe Company has issued a total of 2,267,000 units @$0.30/unit and 1,428,570\nflow-through units @$0.35/unit.\n\n\nEach unit consists of one common share and one-half of one two year\nwarrant, with each whole warrant being exercisable at a price of $0.50/share\nin the first year and $0.75/share in the second year, subject to forced\nacceleration in the event the Company's shares close at a price of $0.66/share\nin the first year and $1.05/share in the second year for 20 consecutive\ntrading days.\n\n\nEach flow-through unit consists of one flow-through common share and\none-half of one two year non-flow-through warrant, with each whole warrant\nbeing exercisable at a price of $0.50/share in the first year and $0.75/share\nin the second year, subject to forced acceleration in the event the Company's\nshares close at a price of $0.66/share in the first year and $1.05/share in\nthe second year for 20 consecutive trading days.\n\n\nIn connection with the second tranche closing, the Company has issued an\naggregate of 73,911 shares and 369,557 share purchase warrants as finder's\nfees. Each warrant entitles the holder to acquire one common share and\none-half of one two year common share purchase warrant, with each whole\nwarrant being exercisable at a price of $0.50/share in the first year and\n$0.75/share in the second year, subject to forced acceleration in the event\nthe Company's shares close at a price of $0.66/share in the first year and\n$1.05/share in the second year for 20 consecutive trading days.\n\n\nAll securities issued pursuant to the second tranche closing of the\nprivate placement are subject to a Canadian hold period expiring November 17,\n2007.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS OF\n\n\nSTARFIRE MINERALS INC.\n\n\n"Dan Mosher"\n\n\n------------\n\n\nDan Mosher\n\n\nPresident/CEO\n\n\nTHIS PRESS RELEASE WAS PREPARED BY MANAGEMENT W...