Vanstar Closes Private Financing of $1.1M
12 June 2020 - 10:00AM
Vanstar Mining Resources Inc. announces that it has completed a
flow-through Quebec private placement without a broker for an
amount of $ 1,101,600. This private placement consists of 648,000
common shares of the company at a price of $ 1.70. A 6% commission
will be paid to an unrelated third party as an intermediary.
"We are very pleased to have concluded this
other financing deal. This will allow us to quickly begin
exploration on our projects and to be able to verify, if necessary,
by drilling the various targets defined by our preliminary work",
said the CEO of the company, Mr. Guy Morissette.
The money received will be used mainly for the
development of the Amanda and Félix projects as well as for the
Frida and Éva projects.
A helicopter airborne magnetic survey of
approximately 800 kilometers with a spacing of 25 meters between
the lines is also planned for June for the Félix project. A first
team will also be visiting the project over the next few days in
order to make a first prospective geological assessment of the land
and check the possible accesses for the preparation of a drilling
campaign planned for next summer.
Securities issued under this financing will be
subject to a retention period of four months from the closing date.
The terms of the offering are subject to acceptance by the TSX
Venture Exchange.
The TSX Venture Exchange and its Regulation Services Provider
(as that term is defined in the TSX Venture Exchange Policies) do
not accept any responsibility for the truth or accuracy of its
content.
Sources:
Sébastien Plouffe Vice-président - Relations
publiquessplouffe@vanstarmining.com
514-947-2272
Gary Claytens Vice-président - Western Corporate Development
604-761-3233info@rvanstar.com
www.vanstarmining.com
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