Stelmine Canada Ltd. Closes Financing of $400,000 With MineralFields
30 Dezember 2009 - 9:39PM
Marketwired
Stelmine Canada Ltd. (TSX VENTURE: STH) ("Stelmine") is pleased to
announce the closing of a non-brokered private placement of
$400,000 through the sale of 2,352,940 flow-through units (each a
"FT Unit" and collectively, the "FT Units") at $0.17 each to the
MineralFields Group ("MineralFields"). Each FT Unit consists of one
flow-through common share and one common share purchase warrant,
each whole common share purchase warrant entitling MineralFields to
purchase one additional common share of Amex at the price of $0.25
during a period of 12 months following the closing date and
thereafter at the price of $0.35 during an additional period of 12
months.
As consideration for the services rendered by Limited Market
Dealer Inc. ("LMD") in connection with the private placement, Amex
has paid to LMD a cash finder's fee of $10,000 and issued 235,294
finder's options, each finder's option entitling its holder to
purchase one unit of Amex (each, a "Finder's Unit") at the price of
$0.17 per Finder's Unit for a period of 24 months following the
closing date. Each Finder's Unit is comprised of one common share
and one common share purchase warrant exercisable on the same terms
as the common share purchase warrants comprising the FT Units.
"We are pleased to be entering into this relationship with
MineralFields Group", said Michel Lemay, President and CEO. "This
is an important milestone in the growth of Stelmine Canada Ltd. and
we look forward to working with MineralFields Group as we develop
holdings in the Quebec regions."
Proceeds of the private placements will be used by Stelmine to
incur exploration expenditures on its properties located in the
Province of Quebec.
About Stelmine Canada Ltd.
Stelmine Canada Ltd. is a junior mining exploration company
whose common shares are listed on the TSX Venture Exchange under
the STH symbol.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management),
based in Toronto, Vancouver, Montreal and Calgary, is a mining fund
with significant assets under administration that offers its
tax-advantaged super flow-through limited partnerships to investors
throughout Canada as well as hard-dollar resource limited
partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution
of structured products and mutual funds (including the Pathway
Multi Series Funds Inc. corporate-class mutual fund series).
Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities ® (a division of
Limited Market Dealer Inc.) is active in leading resource
financings (both flow-through and hard dollar PIPE financings) on
competitive, effective and service-friendly terms, and offers
investment banking, mergers and acquisitions, and mining industry
consulting, services to resource companies. MineralFields and
Pathway have financed several hundred mining and oil and gas
exploration companies to date through First Canadian Securities
®.
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.
Contacts: Michel Lemay President and CEO 514-866-8209
514-866-8096 (FAX)
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