/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES/
TSXV: SFR
VANCOUVER, July 23 /CNW/ - Starfire Minerals Inc. (TSXV: SFR) is pleased to announce a non-brokered private placement of up to $1,068,490 through the sale of up to 3,561,634 units @ $0.30/unit. Each unit will consist of one common share and one-half of one two year warrant, with each whole warrant being exercisable at a price of $0.50/share in the first year and $0.75/share in the second year, subject to forced acceleration in the event the Company's shares close at a price of $0.66/share in the first year and $1.05/share in the second year for 20 consecutive trading days.
A finder's fee of a combination of cash, shares and/or warrants will be paid to eligible finders in relation to these financings, all in accordance with regulatory policies.
The proceeds received will be used for general working capital.
The above transaction is subject to the approval of the TSX Venture Exchange.
The securities proposed to be offered in the private placement have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.
ON BEHALF OF THE BOARD OF DIRECTORS OF
STARFIRE MINERALS INC.
"Dan Mosher"
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Dan Mosher
President/CEO
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