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Re: News Release - Wednesday, November 18, 2009
Starcore Arranges $2 million Financing
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Vancouver, B.C. -- Starcore International Mines Ltd. (the "Company")
announces that it has arranged a non-brokered financing for gross
proceeds of $2 million. The financing will be in the form of:
(1) 15,000,000 Units at $0.10 per Unit, each Unit comprised of one
common share of the Company (a "Common Share") and one-half of one
transferable share purchase warrant (a "Warrant"). Each whole Warrant
will entitle the holder to acquire one common share of the Company (the
"Warrant Shares") at a price of $0.15 for a period of 12 months
following the Closing Date. Pursuant to TSX policies, the exercise of
the Warrants will be subject to shareholder approval, which approval
will be sought at the annual meeting of shareholders scheduled for
January 18, 2010.
(2) 5,000,000 Special Warrants at $0.10 per Special Warrant, each
Special Warrant entitling the holder to receive, at no additional cost,
one Unit (a "Unit") of the Company. Each Unit will consist of one
common share of the Company (a "Common Share") and one-half of one
transferable common share (a "Warrant") each whole Warrant entitling
the holder to acquire one common share of the Company (the "Warrant
Shares") at a price of $0.15 for a period of 12 months following the
Closing Date. Pursuant to TSX policies, the exercise of the Special
Warrants will be subject to shareholder approval, which approval will
be sought at the annual meeting of shareholders scheduled for January
18, 2010. The Special Warrants will be deemed to be exercised on the
date which is two business days after the receipt of shareholder
approval for the exercise of the Special Warrants.
A finder's fee will apply in this transaction in accordance with the
policies of the Exchange, in the form of a cash commission of 7%, and
for registered agents, warrants equivalent to 10% of the funds raised.
Each Warrant will entitle the holder to acquire one common share of the
Company at a price of $0.15 per share for a period of 12 months from
the date of closing. The proceeds from this private placement will be
added to working capital and will be used for mine development.
For more information on the Company visit our website at
www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed "Robert Eadie"
Robert Eadie, President
FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Telephone: 1-604-602-4935
Toll Free: 1-866-602-4935 / Facsimile: 1-604-602-4936
The Toronto Stock Exchange has not reviewed nor does it accept
responsibility for the adequacy or accuracy of this press release.
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Copyright (c) 2009 STARCORE INTERNATIONAL MINES LTD. (SAM.H) All
rights reserved. For more information visit our website at
http://www.starcore.com/ or send mailto:info@starcore.com
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Starcore International Ventures Ltd
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PRODUCER |
CODE : SAM.TO |
ISIN : CA85525T1030 |
CUSIP : 85525T103 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Starcore International is a gold exploration company based in Canada. Starcore International produces gold, silver and zinc in Mexico, and holds various exploration projects in Mexico. Its main asset in production is SAN MARTIN (MEXICO) in Mexico and its main exploration properties are CERRO DOLORES and EL TRANSITO in Mexico. Starcore International is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.2 millions as of today (US$ 3.8 millions, € 3.5 millions). Its stock quote reached its highest recent level on February 02, 2007 at CA$ 4.84, and its lowest recent point on December 05, 2019 at CA$ 0.05. Starcore International has 49 146 851 shares outstanding. |