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Saturn Minerals Announces Amended Private Placement with Global Resources Investments Ltd.
(via Thenewswire.ca) January 17, 2014, Vancouver - Saturn Minerals Inc. (TSX.V: SMI) (FSE:...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Minerals Announces Amended Private Placement with Global Resources Investments Ltd.(via Thenewswire.ca)\n\n \nJanuary 17, 2014, Vancouver - Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) (\"Saturn\" or the \"Company\") announces it has settled on terms to amend the Private Placement with Global Resources Investments Ltd. (\"GRIL\") (see news release dated November 6, 2013). Under the initial agreement Saturn was seeking to raise $1,000,000 through the sale of 10,000,000 units at $0.10 per unit. Each unit consisting of one common share and one-half common share purchase warrant, each full common share purchase warrant will be exercisable at $0.15 per share for 2 years. Under the amended agreement Saturn is seeking to raise $1,200,000 through the sale of 10,000,000 units at $0.12 per unit. Each unit consisting of one common share and one-half common share purchase warrant, each full common share purchase warrant will be exercisable at $0.15 per share for two years. \n\n \n \nGRIL has been established to exploit investment opportunities in the junior mining and natural resource sectors worldwide, with an investment objective to generate medium and long-term capital growth. GRIL will re-register as a public company and be constituted as an investment trust with the name Global Resources Investment Trust Plc (\"GRIT\") and seek admission of its ordinary shares on the main market for listed securities on the London Stock Exchange.\n\n \n \nIn consideration for acquiring the Saturn units, GRIT will issue and deliver to Saturn 670,878 ordinary shares of GRIT at ?1.00 per share (the \"GRIT Shares\"). Saturn will then sell the GRIT Shares through the facilities of the London Stock Exchange to realize the private placement proceeds.\n\n \n \nClosing of the transaction is subject to a number of conditions precedent, including approval of the TSX Venture Exchange, and GRIT successfully listing on the London Stock Exchange.\n\n \n \nA finder's fee in the form of common shares will be payable to Jordan Capital Markets Inc. for introducing the Company and assisting in negotiating the transaction with GRIT.\n\n \n \nAbout Saturn Minerals Inc.\n\n \n \nSaturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) is a junior Canadian energy company advancing a portfolio of oil and coal properties in Saskatchewan and Manitoba. The Company has interests in ove...