Company also issues C$2.7 million of units to creditors to settle debt
By Devika Patel
Knoxville, Tenn., May 17 - Starfire Minerals Inc. said it has negotiated a C$3 million private placement of units.
The company will sell 42,857,142 units of one common share and one warrant at C$0.07 per unit.
The five-year warrants are exercisable at C$0.10, an 11.11% premium to the May 16 closing price of C$0.09.
The company also said it will issue C$2.7 million of the units to certain creditors to settle debt at a deemed price of C$0.07 per unit.
Starfire is a uranium, nickel and gold explorer based in Vancouver, B.C.
| Issuer: | Starfire Minerals Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 42,857,142
|
| Price: | C$0.07
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.10
|
| Pricing date: | May 17
|
| Stock symbol: | TSX Venture: SFR
|
| Stock price: | C$0.09 at close May 16
|
| Market capitalization: | C$192,910
|
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