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Starfire Minerals Inc. announces private placements of $45,000
Starfire Minerals Inc. announces private placements of $45,000.
About this update from Sandfire Resources America Inc.
[{"type":"text","content":"\n\n\n\n\nTSXV: SFR\n\nVANCOUVER, Oct. 17 /CNW/ - Starfire Minerals Inc. (TSXV: SFR) is pleased\nto announce a non-brokered private placement of 180,000 Units at $0.25 per\nUnit ($45,000). Each Unit will consist of one share and one share purchase\nwarrant. Each warrant will entitle the holder to acquire one additional share\nfor a period of 2 years from the date of issue at an exercise price of $0.45\nin the first year and $0.60 in the second year. A restriction on the warrants\nprovides that if the Company's shares trade at $0.60 or higher in the first\nyear and $0.85 or higher in the second year on the TSX Venture Exchange for\n20 consecutive trading days, then the warrants must be exercised within\n30 calendar days of express written notice to the subscriber or they will be\ncancelled. A finder's fee of a combination of cash, shares and/or warrants may\nbe paid in relation to this portion of the financing, all in accordance with\nregulatory policies.\nProceeds of this financing will be used for general working capital.\nThe above financing is subject to regulatory approval.\n\nAbout Starfire:\n---------------\n\nStarfire Minerals Inc. includes uranium, nickel and precious & base metal\ndivisions with ten Canadian properties in Ontario, Quebec and British\nColumbia.\nA field program has been completed on the Company's Porphyry Pearl Gold\nCopper Property in the Toodoggone region of North-Central B.C. The Toodoggone\nMineral Belt hosts several large Porphyry copper/gold reserves and has several\nepithermal high grade Gold silver deposits that have been mined or are being\nmined. We are awaiting geophysical reports on this property.\nA further program has been completed on the Company's Cross-Structure\nUranium Property 700 miles east of MontrDeal, Que. Follow up exploration is\nplanned on this property as a result of encouraging Uranium showings\ndelineated from its Airborne Radiometric and Magnetic survey and a limited\nground work completed in the fall of 2005. Recent uranium exploration results\nfrom an adjacent property owned by Entourage Mining Ltd, (ETGMF) has\nencouraged Starfire to prioritize the work on this project. (See Entourage\nMining Ltd. news releases August 30, 2006 and September 5, 2006).\nThe Company has also commenced an Airborne Radiometric and Magnetic\nSurvey, to be flown on 3 of its 4 Uranium Proper...