Company to use funds from non-brokered deal for Bomfim project
By Marisa Wong
Madison, Wis., Jan. 17 - Eagle Star Minerals Corp. said it arranged a C$1.2 million non-brokered private placement of units.
The company priced 6 million units at C$0.20 per unit. Each unit consists of one common share and one-half of a share purchase warrant.
Each full warrant is exercisable at C$0.30 per share for 18 months. The strike price reflects a 50% premium to the Jan. 16 closing share price of C$0.20.
Proceeds will be used to further development claims at the company's Bomfim Agro-mineral Project.
Based in Vancouver, B.C., Eagle Star acquires, explores and develops agro-mineral properties in Brazil.
| Issuer: | Eagle Star Minerals Corp.
|
| Issue: | Units of one common share and one-half of a share purchase warrant
|
| Amount: | C$1.2 million
|
| Units: | 6 million
|
| Price: | C$0.20
|
| Warrants: | Half a warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Announcement date: | Jan. 17
|
| Stock symbol: | TSX Venture: EGE
|
| Stock price: | C$0.20 at close Jan. 16
|
| Market capitalization: | C$14.68 million
|
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