Stina Resources Ltd. Closes Final Tranche of $3 Million Financing
Vancouver, March 15, 2018 - Stina Resources Ltd. (CSE: SQA) (OTCQB: STNUF) (the "Company") is pleased to announce that it has closed the third and final tranche of its previously announced and fully subscribed non-brokered private placement for gross proceeds of $924,161 through the issuance of 3,422,818 units ("Units") of the Company at a price of $0.27 per Unit (the "Offering"). Each Unit consists of one common share (a "Common Share") of the Company and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase a Common Share at an exercise price of $0.45 for a period of three (3) years following the closing of the Offering. Certain eligible finders (the "Finders") were paid cash commissions equal to 6% of the proceeds raised from subscribers introduced to the Company by such Finders and Finder Warrants equal to 6% of the Units issued pursuant to the Offering.
In total the Company raised an aggregate of $3,000,000 pursuant to the Offering, through the issuance of 11,111,109 Common Shares.
All securities issued in connection with the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Proceeds of the Offering will be used for general working capital purposes.
For further information, please contact:
Brian Stecyk
President
Telephone: 780-953-0111
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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