Stina Announces Private Placement and Change of Management
June 20, 2017
Stina Resources Ltd. (the “Company”) (CSE: SQA) (OTC: STNUF) is pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of $250,000 through the issuance of 2,083,333 units (“Units”) of the Company at a price of $0.12 per Unit (the “Offering”). Each Unit will consist of one common share (a “Common Share”) of the Company and one-half of one Common Share purchase warrant (a whole warrant, a “Warrant”) with each Warrant entitling 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.
The closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange.
The Company also announces the resignation of Mr. James Corrigan as a Director, President and Chief Financial Officer, and Mr. Jim Wall as a Director, Chief Executive Officer and Secretary, of the Company effective June 19, 2017.
Brian Stecyk has been appointed as President and Chief Executive Officer, and James Morin has been appointed as Chief Financial Officer and Secretary, of the Company filling the vacancies created by the resignations of Messrs. Corrigan and Wall.
The current board of directors consist of Mr. Bryan Stecyk, Mr. James Morin and Mr. Anthony Hammond.
The board of directors and management would like to thank Messrs. Corrigan and Wall for their contribution to the Company and wish them every success in their future endeavours.