Stina Announces Closing of Private Placement
July 7, 2017
Stina Resources Ltd. (the “Company”) (CSE: SQA) (OTC: STNUF) is pleased to announce that it has closed its previously announced non-brokered private placement for gross proceeds of $249,800.16 through the issuance of 2,081,668 units (“Units”) of the Company at a price of $0.12 per Unit (the “Offering”). Each Unit consists of one common share (a “Common Share”) of the Company and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase a Common Share at an exercise price of $0.15 for a period of eighteen (18) months following the closing of the Offering. An eligible person (the “Finder”) was paid a cash commission equal to 10% of the proceeds raised from subscribers introduced to the Company by such Finder. Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange. All securities issued in connection with the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Proceeds of the Offering will be used to further investigate the Bisoni McKay vanadium deposit and the surrounding claims as announced in the Company’s recent news releases.