Stina Completes Private Placement
April 25, 2017
Stina Resources Ltd. (the “Company”) is pleased to announce that further to its news releases dated March 13, 2017, and April 11, 2017, the Company has completed its private placement offering of 11,000,000 units (the “Offering”) for total proceeds of $880,000.
Each unit consists of one common share of the company and one share purchase warrant, wherein each share purchase warrant shall have a two-year term for the purchase of one further common share of the company at the exercise price of 10 cents per share.
The Company will pay finder’s fees in the total amount of $27,120. The Company also settled two bona fide debts totaling $126,395 due to Company directors at a deemed price of eight cents per share for a total of 1,579,937 shares.
All of the securities distributed under the offering are subject to a four-month hold period expiring August 26, 2017