Starfire Minerals Inc. - Private Placement

    




 TSXV: SFR 

 VANCOUVER, May 17, 2012 /CNW/ - Starfire Minerals Inc. ("Starfire" or  the "Company") is pleased to announce a non-brokered private placement  of up to $3,000,000 through the sale of up to 42,857,142 units (the  "Units") at $0.07 per Unit. Each Unit will be comprised of one common  share and one share purchase warrant, with each warrant being  exercisable into one additional common share at a price of $0.10/share  for a period of five years from the date of issuance. 

 Participation in the private placement will consist of third parties, as  well as certain insiders of the Company.  A finder's fee of a combination of cash, shares and/or warrants will be  paid to eligible finders in relation to noninsider participation in  this financing, all in accordance with regulatory policies.  In addition, the Company may settle up to an aggregate of $2,700,000 in  debt by issuance of up to an aggregate of 38,571,429 units (the "Debt  Units") at a price of $0.07 per Debt Unit to certain creditors of the  Company. Each Debt Unit will be comprised of one common share and one  share purchase warrant with each warrant being exercisable into one  additional common share at a price of $0.10/share for a period of five  years from the date of issuance. 

 The private placement and shares for debt transactions are both subject  to the approval of TSX Venture Exchange. 

 ON BEHALF OF THE BOARD OF DIRECTORS OF STARFIRE MINERALS INC. 

 "Dan Mosher" ________________________ Dan Mosher, President & CEO 

 THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL  RESPONSIBILITY FOR ITS CONTENTS. NEITHER THE TSX VENTURE EXCHANGE NOR  ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE  POLICIIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE  ADEQUACY OR ACCURACY OF THIS RELEASE.  

Starfire Minerals Inc.


CONTACT:  Starfire Minerals Inc.3B - 19299 94th AvenueSurrey, BC V4N 4E6Telephone: [phone]Fax: [phone] 


    

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