Business
Starfire Minerals Inc. announces $2,067,350 private placement
Starfire Minerals Inc. announces $2,067,350 private placement.
About this update from Sandfire Resources America Inc.
[{"type":"text","content":"\n\n\n\nTSXV: SFR\n\n\nVANCOUVER, June 19 /CNW/ - Starfire Minerals Inc. (TSXV: SFR) is pleased\nto announce a non-brokered private placement of up to $2,067,350 through the\nsale of up to 1,666,666 non-flow-through units @ $0.30/unit; up to 4,357,141\ninitial flow-through units @ $0.35/unit and up to 121,000 second flow-through\nunits @ $0.35/unit. Of this amount, 1,428,570 initial flow-through units\n($500,000) will be issued to the Mineralfields Group and 1,500,000 initial\nflow-through units ($525,000) will be issued to Cordilleran 2007 Resources\nLimited Partnership.\n\n\nEach non-flow-through unit will consist of one non-flow-through common\nshare and one-half of one two year non-flow-through 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\nEach initial flow-through unit will consist of one flow-through common\nshare and one-half of one two year non-flow-through 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\nEach second flow-through unit will consist of one flow-through common\nshare and one-half of one non-flow-through warrant, with each whole warrant\nbeing exercisable at a price of $0.50/share for one year.\n\n\nA finder's fee of a combination of cash, shares and/or warrants will be\npaid to eligible finders in relation to these financings, all in accordance\nwith regulatory policies.\n\n\nThe flow-through proceeds received will be used for work on the Company's\nexploration properties. The non-flow-through proceeds received will be used\nfor general working capital.\n\n\nThe above financing is subject to regulatory approval.\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 WHO TAKES FULL\n\n\nRESPONSIBILITY FOR ...