Business
Starfire Minerals Inc. announces private placements of up to $1,500,000
Starfire Minerals Inc. announces private placements of up to $1,500,000.
About this update from Sandfire Resources America Inc.
[{"type":"text","content":"\n\n\n\n\nTSXV: SFR\n\nVANCOUVER, Sept. 6 /CNW/ - Starfire Minerals Inc. (TSXV: SFR) is pleased\nto announce a non-brokered private placement of up to approx. 3,571,428 FT\nUnits at $0.28 each ($1,000,000) and up to 2,000,000 NFT Units at $0.25 each\n($500,000). Royal Securities Corporation of Toronto will be remunerated as the\nfinder in respect of this financing. Each FT Unit will consist of one\nflow-through share and one non-flow-through warrant. Each NFT Unit will\nconsist of one non-flow-through share and one non-flow-through warrant. Each\nwarrant will entitle the holder to acquire one additional share for a period\nof 2 years from the date of issue at an exercise price of $0.45 in the first\nyear and $0.60 in the second year. A restriction on the warrants provides that\nif the Company's shares trade at $0.60 or higher in the first year and $0.85\nor higher in the second year on the TSX Venture Exchange for 20 consecutive\ntrading days, then the warrants must be exercised within 30 calendar days of\nexpress written notice to the subscriber or they will be cancelled. A finder's\nfee of a combination of cash, shares and/or warrants will be paid in relation\nto this portion of the financing, all in accordance with regulatory policies.\nProceeds received from the flow-through funds will be used for\nexploration work on the Company's properties. Proceeds from the\nnon-flow-through portion of the financing will be used for the costs of the\noffering and for general working capital.\nThe above financing is subject to regulatory approval.\n\nAbout Royal Securities Corporation:\n-----------------------------------\n\nRoyal Securities Corp. (www.rscc.ca) is a custom portfolio manager\nfocused on the Asian investment market that provides investment management to\nboth private clients and institutional investors.\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 drilling program is currently underway on the Company's 100% owned\nLangmuir South Nickel Property in Timmins Ont. Drill results are pending. A\nfield crew has commenced work on the Company's Porphyry Pearl Gold Copper\nProperty in the Toodoggone region of North-Central B.C. The Toodoggone Mineral\nBelt hosts several large Por...