Megastar Amends Financing
June 21 2011 - 8:00AM
Marketwired
Megastar Development Corporation ("Megastar", the "Company" or
"MDV") (TSX VENTURE: MDV)(FRANKFURT: M5Q) announces that it is
amending the previously announced financing on June 3, 2011. The
Company will now be proceeding with a financing of up to $650,000
by the way of a non-brokered private placement offering (the
"Offering").
The Offering consists of the issuance of approximately 6,500,000
units at $0.10 per unit (the "Units"). Each Unit consists of one
common share (a "Share") and one share purchase warrant (the
"Warrant"). Each Warrant will entitle the holder thereof to
purchase one Share at a price of $0.135 per Share for a period of
24 months.
Finders' fees may be paid by the Company in conjunction with the
completion of the Private Placement in accordance with TSX Venture
Exchange policies.
Proceeds of the Offering will be used for general working
capital, including company's ongoing evaluation of possible
projects.
The Offering is subject to regulatory acceptance and final
documentation, and is scheduled to close on or about June 30,
2011.
ABOUT MEGASTAR DEVELOPMENT CORP.
Megastar Development Corp. is an emerging resource company
engaged in the acquisition, exploration and development of mineral
properties in Canada. Megastar owns mineral properties in Quebec
and British Columbia. For further information, investors and
shareholders are invited to visit the Company's website at
www.megastardevelopment.com or call the office at 604-683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
Dusan Berka, P. Eng., President & CEO
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: Megastar Development Corp. Dusan Berka, P. Eng.
President & CEO 604-683-6648 604-683-1350 (FAX)
www.megastardevelopment.com
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