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South Star Mining Corp. Announces Brokered Subscription Receipt Financing In Connection with Acquisition of 100% Interest in Santa-Cruz Graphite Project
(via TheNewswire) February 28 th , 2018 / TheNewswire / Vancouver, B.C. - South ...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"South Star Mining Corp. Announces Brokered Subscription Receipt Financing In Connection with Acquisition of 100% Interest in Santa-Cruz Graphite Project(via TheNewswire)\n \n \nFebruary 28th, 2018 / TheNewswire / Vancouver, B.C. - South Star Mining Corp. (\"South Star\" or the \"Company\") (TSXV: STS.H) is pleased to announce that, in connection with the previous announcement that South Star has entered into a definitive agreement (the \"Definitive Agreement\") to acquire a 100% interest in the Santa-Cruz Graphite Project (the \"Transaction\") with Brasil Graphite Corp. (\"Brasil Graphite\"), South Star intends complete a private placement of subscription receipts (each, a \"Subscription Receipt\") to raise gross proceeds of a minimum of C$5,000,000 and a maximum of C$8,000,000 (the \"Private Placement\"). \n\n\n \nSouth Star is also pleased to announce that it has entered into an agreement with a syndicate of agents led by Echelon Wealth Partners Inc. (the \"Lead Agent\"), and including Haywood Securities Inc., PI Financial Corp. and Eight Capital Inc. (collectively referred to as, the \"Agents\") to sell, on a commercially reasonable efforts basis, a minimum of 11,111,111 Subscription Receipts and a maximum of 17,777,777 Subscription Receipts at a price of C$0.45 per Subscription Receipt (the \"Offering Price\"). The Private Placement is expected to close on or about March 29, 2018 (the \"Closing Date\").\n\n\n \nEach Subscription Receipt shall be automatically converted, without any further action by the holder of such Subscription Receipt, and for no additional consideration, into one unit of the Company (each a \"Unit\" and collectively the \"Units\") upon receipt by the escrow agent, prior to the date that is three months from the Closing Date (the \"Escrow Deadline\") of a release notice from the Company and the Lead Agent, on behalf of the Agents, confirming (collectively, the \"Escrow Release Conditions\"): (a) the completion, satisfaction or waiver of all conditions precedent to the Transaction in accordance with the Definitive Agreement, to the satisfaction of the Agents; (b) the receipt of all required shareholder and regulatory approvals, including, without limitation, the conditional approval of the TSX Venture Exchange for the listing of the Common Shares and the Transaction; (c) receipt by the Agents of an opinio...