VANCOUVER, BC, May 4, 2023
/CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the
"Company") (TSXV: STE) (OTCQX: STRPF) is pleased to
announce that it has closed a non-brokered private placement of
6,250,000 units (the "Units") of the Company at a price of
$0.40 per Unit for gross proceeds of
$2,500,000. Each Unit consists
of one common share and one-half of one share purchase warrant,
with each share purchase warrant entitling the holder to acquire an
additional common share of the Company at a price of $0.80 per share for a period of 18 months from
the closing date.
Johnathan More, Chairman &
CEO of Starr Peak, commented "We are
pleased to welcome a new group of international investors to the
Company. These funds will assist in the launch of a follow-up drill
program on our NewMétal Property in Quebec."
In connection with the closing, the Company will pay finder's
fees of up to 6% cash to certain finders. The shares and warrants
comprising the Units are subject to a hold period expiring
September 4, 2023.
On Behalf of the Board of Directors of Starr Peak Mining
Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Mining
Ltd.
Starr Peak Mining Ltd. is a Canadian based mineral exploration
company focused on the acquisition and exploration of precious and
base metal mineral deposits. The primary objective of the Company
is to acquire, explore and develop high potential and quality gold
and base metal deposits and projects in the Americas. The Company
is committed to creating long-term shareholder value through
mineral discoveries.
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
the content of this news release.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered 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 in the United
States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is
for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Cautionary Note Regarding
Forward-Looking Information:
This press release contains forward-looking information based
on current expectations, including the use of funds raised under
the Offering. These statements should not be read as guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. Although such
statements are based on management's reasonable assumptions,
Starr Peak assumes no responsibility
to update or revise forward-looking information to reflect new
events or circumstances unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to several factors and risks including various risk factors
discussed in the Company's disclosure documents which can be found
under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The TSXV has neither reviewed nor approved the
contents of this press release.
SOURCE Starr Peak Mining Ltd.