Non-brokered deal funds exploration expenditures on Corongo property
By Devika Patel
Knoxville, Tenn., May 31 - StoneShield Capital Corp. said it has negotiated an up to C$1 million non-brokered private placement of units.
The company will sell up to 6 million units at C$0.175 apiece. Each unit consists of one common share and one warrant. Each two-year warrant will be exercisable at C$0.25 in the first year and at C$0.35 in the second. The strike prices are 42.86% and 100% premiums, respectively, to the May 30 closing share price of C$0.175.
Proceeds will be for work programs on the El Mercado property, the Geldenhoof property and the Risby Copper property and for general working capital.
Based in Vancouver, B.C., StoneShield is a precious metals exploration company.
| Issuer: | StoneShield Capital Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 6 million
|
| Price: | C$0.1785
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25 in the first year, C$0.35 in the second
|
| Agent: | Non-brokered
|
| Pricing date: | May 31
|
| Stock symbol: | TSX Venture: STS
|
| Stock price: | C$0.175 at close May 30
|
| Market capitalization: | C$3.07 million
|
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