LAVAL, Nov. 18 /CNW Telbec/ - Stellar Pacific Ventures inc. announces an
offering memorandum for a non brokerage private placement of: a minimum of
$200,000 and a maximum of $1,200,000 financing.
The private placement pursuant to the offering memorandum consists of;
(a) 1,000 units at the cost of $ 1,000.00, consisting of 80% flow-through
and 20% common shares units, each unit comprises 3,986 purchase
warrants, each warrant entitles its holder the right to subscribe for
one common share at the exercise price of 0.15 $ per share for a
period of 12 months.
(b) 200 units at the cost of $ 1,000.00. Each unit comprises 10,000
common shares and 10,000 purchase warrants, each warrant entitling
its holder to subscribe for one common share at the exercise price of
0.15 $ per share for a period of 12 months.
Furthermore, the company is pleased to announce the closing of a first
tranche of $370,000.00 financing for which the company will issue, 2,276,980
flow-through shares at 0.13 $ per share, 672,660 common shares at 0.10 $ per
share and 1,474,820 purchase warrants, each warrant entitling its holder the
right to subscribe for one common share at the exercise price of 0.15 $ per
share during a period of 12 months.
The company will pay to agents: 10% cash commission of the total proceeds
raised through them and issue 294,964 purchase warrants equivalent to 10% of
the number of shares issued in connection with the offering at a price of
0.13 $ per share for a period of 12 months.
The proceeds of this financing will be used on exploration programs and
working capital.
"Michel Lemay"
Michel Lemay
President
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
