VANCOUVER,
April 29, 2013 /CNW/ - Starfire
Minerals Inc. (the "Company" or "Starfire") announces
that it has received final approval to list its common shares on
the Canadian National Stock Exchange ("CNSX"), and has
obtained approval to voluntarily delist its common shares from the
TSX Venture Exchange (the "TSX-V"). The Company's common
shares will commence trading on the CNSX effective Monday, April 29, 2013 under the symbol "SFR",
and will be delisted from the TSX-V effective the close of business
on April 26, 2013.
The Company expects that the transition between
the TSX-V and the CNSX will be completed in a seamless manner.
Concurrent with listing on the CNSX, and further
to its news release of May 17, 2012,
the Company will be completing a non-brokered private placement of
$2,941,103.05 through the sale of
58,822,061 units of the Company (the "Units") at
$0.05/Unit. Each Unit will be
comprised of one common share and one share purchase warrant, with
each warrant being exercisable into one additional common share at
a price of $0.10/share for a period
of five years from the date of issuance. A finder's fee of
3,082,000 units, on the same terms as the Units described above,
will be paid to eligible finders in relation to this financing, all
in accordance with regulatory policies. Proceeds from this private
placement will be used to pay outstanding debt and for general
working capital.
In addition, the Company will be settling an
aggregate of $497,667.44 in debt by
issuance of an aggregate of 9,953,348 shares at a deemed price of
$0.05/share to certain creditors of
the Company.
ON BEHALF OF THE BOARD OF DIRECTORS OF
STARFIRE MINERALS INC.
"Dan Mosher"
Dan Mosher, President &
CEO
This press release was prepared by
management who takes full responsibility for its
contents.
Neither 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.
Neither the CNSX Exchange nor its
regulations services accepts responsibility
for the adequacy or accuracy of this release.
This news release does not constitute an
offer to sell or solicitation of an offer to sell any of the units
in the United States. The units
have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the
United States or to a U.S. Person unless registered under
the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
This press release contains certain
forward-looking statements about the Company's future plans and
intentions. Wherever possible, words such as "may", "will",
"should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict", "scheduled" or "potential" or the
negative or other variations of these words, or similar words or
phrases, have been used to identify these forward-looking
statements. These statements reflect Management's current beliefs
and are based on information currently available to Management as
at the date hereof. Forward-looking statements included or
incorporated by reference in this press release include statements
with respect to the proposed CNSX listing and TSX-V de-listing, the
proposed terms of the Private Placement and the anticipated use of
proceeds of the funds raised and the proposed terms of the shares
for debt transactions. Forward-looking statements involve
significant risk, uncertainties and assumptions. Many factors could
cause actual results, performance or achievements to differ
materially from the results discussed or implied in the
forward-looking statements. These factors should be considered
carefully and readers should not place undue reliance on the
forward-looking statements. Although the forward-looking statements
contained in this press release are based upon what Management
believes to be reasonable assumptions, the Company cannot assure
readers that actual results will be consistent with these
forward-looking statements. These forward-looking statements are
made as of the date of this press release, and the Company assumes
no obligation to update or revise them to reflect new events or
circumstances, except as required by law.
SOURCE Starfire Minerals Inc.