Pistol Bay Closes Private Placement
V.PST | 2 hours ago
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 2014) - Pistol Bay Mining Inc. (TSX VENTURE
ST) ("the Company") is pleased to announce that it has closed the non-brokered private placement announced on January 14 th 2014.
A total of 4,000,200 units will be issued as non flow-through units at a price of $0.06 per unit for total proceeds of $240,012. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for 18 months from the date of closing.
Shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period of four months expiring May 24 th 2014. The proceeds of the private placement will be used for general working capital.
The following insiders participated in the private placement: Doug McFaul, 180,500 units and Dave John Ramesh Bissoondatt 50,000 units.
Finders' fees: Leede Financial Markets Inc. - $2,800.20 cash and 46,670 Broker warrants, Global Securities Corp. - $4,431 cash and 73,850 Broker Warrants and Canaccord Genuity Corp. - $4,800 cash and 80,000 Broker warrants. Each Broker Warrant is convertible into units of the Company at an exercise price of $0.06 until expiration on July 23 rd 2015. Each unit comprises one share and one warrant exercisable at $0.10 per share for 18 months from the date of closing.
The Company further announces that pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, consultants, and employees to purchase in the total of 650,000 common shares in the capital stock of the company, subject to regulatory approval, exercisable for a period of five years, at a price of $0.105 per share.
About Pistol Bay Mining Inc. (TSX VENTURE ST) is a diversified Junior Canadian Mineral Exploration Company with a focus on graphite, precious and base metal properties in North America..
For additional information please contact Charles Desjardins at Pistol Bay Mining Inc. or visit www.pistolbaymining.com .
On Behalf of the Board of Directors, PISTOL BAY MINING INC.
Charles Desjardins, President and Director
Pistol Bay Closes Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 2014) - Pistol Bay Mining Inc. (TSX VENTURE ST) ("the Company") is pleased to announce that it has closed the non-brokered private placement announced on January 14 th 2014.
A total of 4,000,200 units will be issued as non flow-through units at a price of $0.06 per unit for total proceeds of $240,012. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for 18 months from the date of closing.
Shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period of four months expiring May 24 th 2014. The proceeds of the private placement will be used for general working capital.
The following insiders participated in the private placement: Doug McFaul, 180,500 units and Dave John Ramesh Bissoondatt 50,000 units.
Finders' fees: Leede Financial Markets Inc. - $2,800.20 cash and 46,670 Broker warrants, Global Securities Corp. - $4,431 cash and 73,850 Broker Warrants and Canaccord Genuity Corp. - $4,800 cash and 80,000 Broker warrants. Each Broker Warrant is convertible into units of the Company at an exercise price of $0.06 until expiration on July 23 rd 2015. Each unit comprises one share and one warrant exercisable at $0.10 per share for 18 months from the date of closing.
The Company further announces that pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, consultants, and employees to purchase in the total of 650,000 common shares in the capital stock of the company, subject to regulatory approval, exercisable for a period of five years, at a price of $0.105 per share.
About Pistol Bay Mining Inc. (TSX VENTURE ST) is a diversified Junior Canadian Mineral Exploration Company with a focus on graphite, precious and base metal properties in North America..
For additional information please contact Charles Desjardins at Pistol Bay Mining Inc. or visit www.pistolbaymining.com .
On Behalf of the Board of Directors, PISTOL BAY MINING INC.
Charles Desjardins, President and Director
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