St. Elias Mines Ltd. - Corporate Update
03 Juin 2014 - 6:08PM
Access Wire
Vancouver, BC / ACCESWIRE /
June 3, 2014 / St. Elias Mines Ltd. (SLI-TSX-V) announces the following corporate update.
Subject to
regulatory approval, the Company has closed $10,000 of the
non-brokered private placement of up to 5,000,000 units at a
price of $0.05 previously announced on April 23, 2014 (the "Private
Placement"). The Company has issued 200,000 units at a price of
$0.05 per unit. Each unit consists of one common share of the
Company and one non-transferable share purchase warrant. Each
warrant will entitle the holder thereof to purchase one additional
common share of the Company at a price of $0.10 for a period of 24
months following closing. All securities issued in connection with the Private
Placement are subject to a four-month hold period expiring October
4, 2014.
The Private Placement remains
open. The additional proceeds of the Private Placement, if any, are
intended to be used to pay annual government fees for the Company's
Peruvian and B.C. properties, audit fees and for working
capital. Interested purchasers can contact Lori
McClenahan or Cathy Forhane for subscription documents.
The
Company has found it extremely difficult to raise money with the
current trading price of the Company's shares.
Vigencias (annual fees paid to
the Peruvian government) to keep the Peruvian properties in good
standing are due at the end of June, 2014. At present, the Company
is not in a position to meet this obligation.
Fees to
complete the Company's annual audit for the period June 1, 2013 to
May 31, 2014 are due to be paid. At present, the Company is not in
a position to meet this obligation.
The Company is open to any
serious offers to acquire any properties in its portfolio. All
technical information regarding the Company's properties is in the
public domain. Interested purchasers may send purchase proposals to
the Company's CFO, Kulwant Sandher at ksandher@steliasmines.com
For additional information on
St. Elias and its projects, please visit us at www.steliasmines.com or call
1-888-895-5522 (toll free US and Canada) or contact:
ST. ELIAS MINES
LTD.
(signed "Lori
McClenahan")
Lori McClenahan,
President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE: St. Elias Mines Ltd.
Standard Lithium (TSXV:SLI)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Standard Lithium (TSXV:SLI)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024