Business
Saturn Minerals Announces Private Placement with Global Resources Investments Ltd.
(via Thenewswire.ca) November 6, 2013, Vancouver - Saturn Minerals Inc. (TSX.V: SMI) (FSE:...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Minerals Announces Private Placement with Global Resources Investments Ltd.(via Thenewswire.ca)\n\n \nNovember 6, 2013, Vancouver - Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) (\"Saturn\" or the \"Company\") announces it has settled on terms to undertake a private placement with Global Resources Investments Ltd. (\"GRIL\"). Saturn is seeking to raise $1,000,000 through the sale of 10,000,000 units at $0.10 per unit. Each unit consists 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.\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 606,575 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 over 370,000 acres of oil & gas rights in Saskatchewan and is advancing a number of oil exploration projects. Saturn has also made three shallow bituminous coal discoveries since 2009 with coal seams ranging in continuous vertical thickness from 9 to 89 meters. Saturn has a strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration ...