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Megastar Arranges Financing
Published : June 03, 2011
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 3, 2011) - Megastar Development Corporation ("Megastar", the "Company" or "MDV") (News - Market indicators)(FRANKFURT:M5Q) is pleased to announce that it has arranged a financing of up to $1,005,000 by way of a non-brokered private placement offering (the "Offering").

The Offering consists of the issuance of approximately 7,000,000 units at $0.075 per unit (the "A Units") and approximately 4,000,000 units at $0.12 per unit (the "B Units"). Each A Unit consists of one common share (a "Share") and one share purchase warrant (the "A Warrant"). Each A Warrant will entitle the holder thereof to purchase one Share at a price of $0.10 per Share for a period of 24 months. Each B Unit consists of one Share and one-half of one share purchase warrant (the "B Warrant"). Each whole B Warrant will entitle the holder thereof to purchase one Share at a price of $0.18 per Share for a period of 24 months.

Finders' fees may be paid by the Company in conjunction with the completion of the Private Placement in accordance with TSX Venture Exchange policies.

Proceeds of the Offering will be used for general working capital, including company's ongoing evaluation of possible projects.

The Offering is subject to regulatory acceptance and final documentation, and is scheduled to close on or about June 15, 2011.

ABOUT MEGASTAR DEVELOPMENT CORP.

Megastar Development Corp. is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Canada. Megastar owns mineral properties in Quebec and British Columbia. For further information, investors and shareholders are invited to visit the Company's website at www.megastardevelopment.com or call the office at 604-683-6648.

ON BEHALF OF THE BOARD OF DIRECTORS

"DUSAN BERKA"

Dusan Berka, P. Eng.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Megastar Development Corp.
Dusan Berka, P. Eng.
President & CEO
(604) 683-6648
(604) 683-1350 (FAX)
www.megastardevelopment.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Megastar Development Corp

PRODUCER
CODE : MDV.V
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Megastar Development is a gold and copper exploration company based in Canada.

Megastar Development produces gold, copper, lead, silver and zinc in Canada, and holds various exploration projects in Canada.

Its main asset in production is SEDEX in Canada and its main exploration properties are RALLEAU and SIMKAR in Canada.

Megastar Development is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 3.2 millions as of today (US$ 2.5 millions, € 2.1 millions).

Its stock quote reached its highest recent level on March 26, 2010 at CA$ 0.76, and its lowest recent point on February 19, 2016 at CA$ 0.02.

Megastar Development has 28 996 716 shares outstanding.

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Annual reports of Megastar Development Corp
Annual Report 2007
Financings of Megastar Development Corp
6/21/2011Amends Financing
6/3/2011Arranges Financing
4/1/2011MEGASTAR ANNOUNCES REORGANIZATION AND A NEW DIRECTOR
Project news of Megastar Development Corp
2/28/2011(Ralleau)Receives Final Report on the Ralleau Copper-Zinc Project in ...
11/5/2008(Simkar)ADVANCES SIMKAR GOLD PROPERTY AT VAL D’OR, QUEBEC
9/16/2008Quebec Property 43-101 Inferred Resource Estimate Yields 105...
1/30/2008(Simkar)ADVANCING SIMKAR GOLD MINE
Corporate news of Megastar Development Corp
9/1/2016Revised Stock Options
6/23/2015megastar receives consent for extension of warrants
11/27/2014megastar announces results of annual general meeting
5/7/2013oration: News Release
1/30/2013.: News Release
6/5/2012News Release
3/21/2012News Release
5/4/2011News Release
3/17/2011Announces Completion of Plan of Arrangement and Distribution...
2/15/2011News Release
10/12/2007ACCRUES LEADER FOR TWO-TIER MISSION
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TSX-V (MDV.V)Other OTC (MSTJF)
0.110+0.00%0.028-15.66%
TSX-V
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