QUEBEC, June 04, 2021 (GLOBE NEWSWIRE) – Stelmine Canada (STH-TSXV) (“Stelmine“or the”Company“) is pleased to announce that it has closed its recently announced non-brokered private placement (the” Offer “). A total of 7,777,778 Stelmine shares (the” Units “) were issued at a price of 0 $ 09 per unit for gross proceeds of $ 700,000. Each unit included one common share of Stelmine and one common share purchase warrant. Each warrant entitles its holder to purchase one common share of the Company at $ 0.11 for a period of 36 months from issue.
All securities issued under this offering are subject to a four month and one day hold period. The private placement is subject to the approval of the TSX Venture Exchange. Stelmine did not file a material change report within 21 days of the Offering other than in connection with the Offering.
The proceeds of the placement will be used for the exploration of the Courcy and Mercator projects in the Caniapiscau region and for general working capital purposes. In connection with this Placement, the Company will pay a finder’s commission of $ 2,000.
About Stelmine Canada
Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context resembles that of the mine Eleonore. Stelmine owns 100% of the property of 1,574 claims or 815 km² in this part of northern Quebec, highlighted by the Courcy and Mercator projects.
Certain information contained in this press release may contain forward-looking statements, such as statements regarding the expected closing and intended use of the proceeds from the Offer, acquisition and expansion plans, availability of sales opportunities. ‘quality acquisition and growth of the Company. This information is based on current expectations and assumptions (including assumptions relating to obtaining all necessary approvals for the Offer and general economic and market conditions) which are subject to significant risks and uncertainties which are difficult. predictable. Actual results may differ materially from results suggested in forward-looking statements. The risks which could lead to results different from those indicated in the forward-looking statements of this press release include those related to the capacity to carry out the Offer under the conditions described above. The Company assumes no obligation to update any forward-looking statements or to update the reasons why actual results may differ from those reflected in forward-looking statements unless and until applicable securities laws. to the Company require it. Additional information identifying the risks and uncertainties is contained in the documents filed by the Company with the Canadian securities regulatory authorities, which documents are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, contact:
Isabelle Proulx, President and Chief Executive Officer
E-mail: [email protected]
Phone. : 418-626-6333