Vancouver, British Columbia--(Newsfile Corp. - September 28, 2017) - Stina Resources Ltd. (CSE: SQA) (OTCQB: STNUF) (FSE: 01X) (the "Company") is pleased to announce that it has arranged a fully subscribed $2.5 million financing.
The financing involves issuance of 12,500,000 units (“Units”) of the Company at a price of $0.20 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 (a whole warrant, a “Warrant”) with each Warrant entitling the holder thereof to purchase a Common Share at an exercise price of $0.45 for a period of thirty six (36) months following the closing of the Offering.
Proceeds of the financing will be utilized in developing the Company’s vanadium resources on its Bisoni McKay claims and to conduct exploration drilling on its newly acquired Bison Rio claims, both located in Nevada. The funds will also be for general working capital.
All the securities will be subject to a four-month hold period from the date of closing. A finder’s fee may be payable, in accordance with the policies of the Canadian Stock Exchange (“CSE”). The private placement is subject to the approval of the CSE.
About Stina Resources
Stina is a vanadium resource company moving towards becoming a fully integrated producer of vanadium and vanadium electrolytes for the vanadium battery storage industry. The Company's vanadium mineral resources are located on the Bisoni McKay and Bisoni Rio properties in northern Nevada. The Company is also exploring other technology opportunities, including Soft Wave Technology.
For further information, please contact:
President & CEO
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
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