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SUV Navis Resources Corp

0.325
0.00 (0.00%)
31 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Navis Resources Corp CSE:SUV CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.325 0.30 2.00 0 01:00:00

Star Minerals Group Ltd. Closes First Tranche of Private Placement

31/07/2014 9:24pm

Marketwired Canada


Star Minerals Group Ltd. (CSE:SUV) ("Star") is pleased to announce that it has
closed the first tranche of the non-brokered private placement announced on July
21, 2014. The first tranche consists of aggregate gross proceeds of $73,860. The
Company has issued 246,200 units at a price of $0.30 per unit in the first
tranche.


Each unit is comprised of two (2) common shares in the share capital of the
Company ("Common Shares") issued on a "flow through" basis, as defined in the
Income Tax Act (Canada) (the "Flow Through Shares"), three (3) non-flow through
Common Shares (the "Non-Flow Through Shares") and two (2) Common Share purchase
warrants (the "Warrants"). Each Warrant will be exercisable for a period of two
(2) years from the date of issuance at an exercise price of $0.10.


The proceeds of this financing attributable to the sale of the Flow Through
Shares will be used to fund expenditures on Star's existing mineral properties.
The proceeds of this financing attributable to the sale of the Non-Flow Through
Shares will be used for general working capital. 


All securities to be issued in the first tranche of this private placement are
subject to a four month statutory hold period expiring November 30, 2014, in
accordance with applicable Canadian securities laws. The completion of the
closing of further tranches of the private placement is subject to regulatory
approval.


About Star Minerals Group Ltd.

Star is a Saskatoon-based, diversified exploration stage company, with a primary
focus on strategic technology metals, and its advanced joint venture rare earth
project Hoidas Lake. To advance exploration, the Company has leveraged the
strength and experience of its management, board of directors and advisors to
identify and acquire strategic investments that have the capability to generate
cash flow with low capital expenditure costs. 


The Company entered into a joint venture in an advanced rare earth project in
Saskatchewan - Hoidas Lake. Star also holds a strategic gold exploration
property in the Seabee gold mining district, diamond properties in the Fort a la
Corne region as well as base metal and uranium properties.


STAR TRADES ON THE CSE UNDER THE SYMBOL "SUV".

For more information, please visit our website at www.starminerals.ca.

Forward-Looking Statements

This news release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements. Such forward-looking
statements are subject to numerous risks and uncertainties, some of which are
beyond Star's control, including the impact of general economic conditions,
industry conditions, volatility of commodity prices, currency fluctuations,
competition from other industry participants, stock market volatility and the
ability to access sufficient capital from internal and external sources.
Although Star believes that the expectations in its forward-looking statements
are reasonable, they are based on factors and assumptions concerning future
events which may prove to be inaccurate. Those factors and assumptions are based
upon currently available information. Such statements are subject to known and
unknown risks, uncertainties and other factors that could influence actual
results or events and cause actual results or events to differ materially from
those stated, anticipated or implied in the forward looking information. As
such, readers are cautioned not to place undue reliance on the forward looking
information, as no assurance can be provided as to future results, levels of
activity or achievements. Other factors that could materially affect such
forward-looking statements are described in the risk factors in the most recent
management's discussion and analysis that is available on the Company's profile
on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of
factors is not exhaustive. The forward-looking statements contained in this
document are made as of the date of this document and, except as required by
applicable law, Star does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a result of
new information, future events or otherwise. This cautionary statement expressly
qualifies the forward-looking statements contained in this document.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Star Minerals Group Ltd.
Jim Engdahl
306-664-3828
306-244-0042 (FAX)
info@starminerals.ca
www.starminerals.ca

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