Home  / Canada / Mining/Metals Register for Membership
Username:
Password:





IRW-Press: Saturn Minerals Inc. Announces Private Placement Grants Options



Published on 29 August 2014



by Press Office

(IRW-PRESS and WireNews)

Vienna, Austria


Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) (“Saturn” or the “Company”) announces that it will undertake a non-brokered Private Placement of up to 2,500,000 units (the 'Units') at a price of $0.20 per Unit. Each Unit consists of one common share (the “Shares”) and one-half of a share purchase warrant (the “Warrants”). Each whole Warrant will entitle the holder to purchase one additional common share, exercisable at a price of $0.25 per share for a period of 18 months from the date of issue of the Warrant.

The Warrants are subject to an accelerated expiry if, at any time after an initial 4 month hold period expires, the closing price of Saturn’s common shares on the TSX Venture Exchange (the 'TSXV') exceeds $0.35 for any 20 consecutive trading days, in which event the holder will be given notice that the Warrants will expire 30 days following the date of such notice. The Warrants may be exercised by the holder during the 30-day period between the notice and the expiration of the Warrants.

All securities issued will be subject to a four-month hold period and the approval of the TSXV. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

Finder’s fees to third parties may be payable in accordance with the policies of the TSXV. Proceeds from the Private Placement will be applied to general working capital.

The Company has granted 250,000 incentive stock options to EMD Financial Inc. (“EMD”) to acquire up to 250,000 common shares in the capital stock of the Company at an exercise price of $0.20 per share for a period of five (5) years.

About Saturn Minerals Inc.

Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) is a junior Canadian energy company advancing a portfolio of oil and coal properties in Saskatchewan and Manitoba. The Company owns 370,000 acres of exclusive oil & gas rights in Saskatchewan and is advancing a number of oil exploration projects. Saturn has also made three shallow bituminous coal discoveries since 2009 with coal seams ranging in continuous vertical thickness from 9 to 89 meters. Saturn has a strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration and development company co-founded by Saturn with a consortium of Saskatchewan First Nations active in Canada’s prairie provinces.

To learn more, please contact the Company at +1 (604) 685-6989 or visit: www.saturnminerals.com

On Behalf of the Board of Directors

SATURN MINERALS INC.

s/ “Stan Szary”

Chief Executive Officer

Suite 312 - 744 West Hastings Street, Vancouver, B.C. Canada V6C 1A5

Tel: +1 (604) 685-6989 - Fax: +1 (604) 685-6961

www.saturnminerals.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.


Contacts

  •  
  • Joachim Brunner
  • IRW-Press
  • PR Contact
  • Tel: +43724221193011
  •  
Enter your email:
Enter Subject:
Enter your message:
Please enter this numbers in the fields:
 
  Click image to get a new code.
Enter code:
 

Posted 2014-08-29 09:46:00