VANCOUVER, BC, Nov. 23, 2021 /CNW/ - Starr Peak Mining
Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTC:
STRPF) is pleased to announce that it has closed a
non-brokered private placement of Flow-Through Units at
$2.55 per Unit. The Company
has issued 1,474,510 Units at $2.55
per Unit for gross proceeds of $3,760,000.50. Each Unit consists of one
flow-through common share and one-half of one share purchase
warrant, with each whole share purchase warrant entitling the
holder to acquire an additional common share of the Company at a
price of $3.25 per share for a period
of 18 months from closing. The financing was completed at a
substantial premium to its current share price.
In connection with the closing, the Company paid a cash fee to a
finder for a portion of the financing. The flow-through
shares and warrants issued are subject to a hold period expiring
March 23, 2022.
The proceeds from the financing will be used for drilling and
exploration work on the Company's Quebec properties.
On Behalf of the Board of Directors of Starr Peak Mining
Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Mining Ltd.
Starr Peak Mining Ltd. is a Canadian based mineral exploration
company focused on the acquisition and exploration of precious and
base metal mineral deposits. The primary objective of the Company
is to acquire, explore and develop high potential and quality gold
deposits and projects in the Americas. The Company is committed to
create long term shareholder value through
mineral discoveries.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
the content of this news release.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and may not be
offered or sold in the United
States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is
for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking
Information:
This press release contains forward-looking information based on
current expectations, including the use of funds raised under the
Offering. These statements should not be read as guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. Although such
statements are based on management's reasonable assumptions,
Starr Peak assumes no responsibility
to update or revise forward-looking information to reflect new
events or circumstances unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward- looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to several factors and risks including various risk factors
discussed in the Company's disclosure documents which can be found
under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The TSXV has neither reviewed nor approved the
contents of this press release.
SOURCE Starr Peak Mining Ltd.
