Dominion Lending Centres Clearlease Reports Starcore (TSX:SAM) Closes on $2.5 million Financing
Dominion Lending Centres Clearlease Reports Starcore (TSX:SAM) Closes on $2.5 million Financing
VANCOUVER, BRITISH COLUMBIA (April 12, 2011) Clearlease.com Reports further to its press release of March 25, 2011, Starcore International Mines Ltd. (TSX:SAM) (the “Company”) announced today that it has closed on its non-brokered financing for gross proceeds of $2,543,000. The financing was in the form of:
1. 10,170,905 Units at $0.11 per Unit (a “Unit”), each Unit comprised of
one common share of the Company (a “Common Share”) and one-half of one
transferable share purchase warrant (a “Warrant”). Each whole Warrant
entitles the holder to acquire one common share of the Company at a
price of $0.15 to April 7, 2013.
2. 12,947,276 Special Warrants at $0.11 per Special Warrant, each Special
Warrant exercisable, at no additional cost, into one Unit.
Of the 23,118,181 Units and Special Warrants issued by the Company (the “Securities”), Sprott Asset Management subscribed for an aggregate of 15,040,000 of the Securities, and Sprott Private Wealth subscribed for an aggregate of 3,260,000 of the Securities, or a total of 18,300,000 Securities subscribed for by the Sprott group of funds.
Finders’ fees applied in this transaction in the form of cash commissions in the aggregate amount of $148,362.05 and 2,147,910 non-transferable Finder’s Warrants to registered dealers, each Warrant entitling the holder to acquire one common share of the Company at a price of $0.15 to April 7, 2012.
Pursuant to TSX policies, the exercise of the Special Warrants and 1,187,455 Finder’s Warrants will be subject to shareholder approval, which approval will be sought at the extraordinary meeting of shareholders scheduled for June 3, 2011. The Special Warrants will be deemed to be exercised on the date which is two business days after the receipt of shareholder approval for the exercise of the Special Warrants. If shareholder approval is not received, the funds relating to the purchase of the Special Warrants will be returned to subscribers.
All securities issued pursuant to the private placement are subject to a four month hold period to August 8, 2011.
The proceeds from this private placement will be added to working capital and will be used for ongoing mine exploration and development of San Martin, the Company’s gold and silver producing mine located in Queretaro, Mexico.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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VANCOUVER, BRITISH COLUMBIA (April 12, 2011) Clearlease.com Reports further to its press release of March 25, 2011, Starcore International Mines Ltd. (TSX:SAM) (the “Company”) announced today that it has closed on its non-brokered financing for gross proceeds of $2,543,000. The financing was in the form of:
1. 10,170,905 Units at $0.11 per Unit (a “Unit”), each Unit comprised of
one common share of the Company (a “Common Share”) and one-half of one
transferable share purchase warrant (a “Warrant”). Each whole Warrant
entitles the holder to acquire one common share of the Company at a
price of $0.15 to April 7, 2013.
2. 12,947,276 Special Warrants at $0.11 per Special Warrant, each Special
Warrant exercisable, at no additional cost, into one Unit.
Of the 23,118,181 Units and Special Warrants issued by the Company (the “Securities”), Sprott Asset Management subscribed for an aggregate of 15,040,000 of the Securities, and Sprott Private Wealth subscribed for an aggregate of 3,260,000 of the Securities, or a total of 18,300,000 Securities subscribed for by the Sprott group of funds.
Finders’ fees applied in this transaction in the form of cash commissions in the aggregate amount of $148,362.05 and 2,147,910 non-transferable Finder’s Warrants to registered dealers, each Warrant entitling the holder to acquire one common share of the Company at a price of $0.15 to April 7, 2012.
Pursuant to TSX policies, the exercise of the Special Warrants and 1,187,455 Finder’s Warrants will be subject to shareholder approval, which approval will be sought at the extraordinary meeting of shareholders scheduled for June 3, 2011. The Special Warrants will be deemed to be exercised on the date which is two business days after the receipt of shareholder approval for the exercise of the Special Warrants. If shareholder approval is not received, the funds relating to the purchase of the Special Warrants will be returned to subscribers.
All securities issued pursuant to the private placement are subject to a four month hold period to August 8, 2011.
The proceeds from this private placement will be added to working capital and will be used for ongoing mine exploration and development of San Martin, the Company’s gold and silver producing mine located in Queretaro, Mexico.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Dominion Lending Centres Clearlease Reports Starcore (TSX:SAM) Closes on $2.5 million Financing
VANCOUVER, BRITISH COLUMBIA (April 12, 2011) Clearlease.com Reports further to its press release of March 25, 2011, Starcore International Mines Ltd. (TSX:SAM) (the “Company”) announced today that it has closed on its non-brokered financing for gross proceeds of $2,543,000. The financing was in the form of:
1. 10,170,905 Units at $0.11 per Unit (a “Unit”), each Unit comprised of
one common share of the Company (a “Common Share”) and one-half of one
transferable share purchase warrant (a “Warrant”). Each whole Warrant
entitles the holder to acquire one common share of the Company at a
price of $0.15 to April 7, 2013.
2. 12,947,276 Special Warrants at $0.11 per Special Warrant, each Special
Warrant exercisable, at no additional cost, into one Unit.
Of the 23,118,181 Units and Special Warrants issued by the Company (the “Securities”), Sprott Asset Management subscribed for an aggregate of 15,040,000 of the Securities, and Sprott Private Wealth subscribed for an aggregate of 3,260,000 of the Securities, or a total of 18,300,000 Securities subscribed for by the Sprott group of funds.
Finders’ fees applied in this transaction in the form of cash commissions in the aggregate amount of $148,362.05 and 2,147,910 non-transferable Finder’s Warrants to registered dealers, each Warrant entitling the holder to acquire one common share of the Company at a price of $0.15 to April 7, 2012.
Pursuant to TSX policies, the exercise of the Special Warrants and 1,187,455 Finder’s Warrants will be subject to shareholder approval, which approval will be sought at the extraordinary meeting of shareholders scheduled for June 3, 2011. The Special Warrants will be deemed to be exercised on the date which is two business days after the receipt of shareholder approval for the exercise of the Special Warrants. If shareholder approval is not received, the funds relating to the purchase of the Special Warrants will be returned to subscribers.
All securities issued pursuant to the private placement are subject to a four month hold period to August 8, 2011.
The proceeds from this private placement will be added to working capital and will be used for ongoing mine exploration and development of San Martin, the Company’s gold and silver producing mine located in Queretaro, Mexico.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
