Excellent interest in Stuhini's latest financing, oversubscribed by more than $400,000,
Stuhini Exploration Ltd. Announces Increase of Private Placement to $1,920,000
VANCOUVER, BC, Aug. 17, 2022 /CNW/ - Stuhini Exploration Ltd. (the "Company" or "Stuhini") (TSXV: STU) (OTCPK: STXPF) is pleased to announce that, due to demand from potential investors, its non-brokered private placement announced on August 2, 2022 has been increased by $420,000 for total aggregate gross proceeds to the Company of up to $1.92 million (the "Private Placement").
The Private Placement will consist of a combination of: (i) flow-through units of the Company ("FT Units") at a price of $0.45 per FT Unit; and (i) non-flow through units of the Company ("NFT Units") at a price of $0.40 per NFT Unit.
The terms of the Private Placement, the FT Units and NFT Units, the proposed use of proceeds, possible finders' fees and some anticipated insider placees are otherwise as previously disclosed in the Company's news release dated August 2, 2022.
The Private Placement will close in multiple tranches, with the first tranche of the Private Placement having closed on August 4, 2022. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange. All securities to be issued pursuant to the Private Placement will have a hold period of four months and one day from the closing of the applicable tranche of the Private Placement.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of it's base and precious metal properties. The Company's portfolio of exploration properties includes: its flagship, the Ruby Creek Property, located approximately 20 km east of Atlin, BC; the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; and the Big Ledge Property located approximately 57 km south of Revelstoke, BC.
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 release.
Web: www.stuhini.com
SOURCE Stuhini Exploration Ltd.
For further information:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd.,
Email: dobrien@stuhini.com,
Phone: (604) 835-4019
Source : newswire.ca
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