Starcore Ready to Close Private Placement

Vancouver, B.C. Further to its news release of July 4th, 2022, Starcore International Mines Ltd. (TSX:SAM) (the “Company” or “Starcore”) announces it has confirmed a total of $1,200,000 in subscription funds and will be closing its non-brokered private placement upon Toronto Stock Exchange acceptance. On closing, the Company will issue a total of 6,000,000 units (the “Units”) at a price of $0.20 per Unit. Each Unit is comprised of one common share of Starcore and one-half of one transferable common share purchase warrant (the “Warrants”), each whole Warrant exercisable for a period of four years from the date of issue to purchase one common share of Starcore at a price of $0.30 per share, provided that, if after the expiry of all resale restrictions, the closing price of the Company’s shares is equal to or greater than $0.40 per share for 20 consecutive trading days, the Company may, by notice to the Warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.

Leave a Reply