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Stonehaven Exploration closes private placement


Published Dec 31, 2015
Stonehaven Exploration Ltd.

Stonehaven Exploration Ltd. has closed its previously announced non-brokered private placement offering through the issuance of 3,642,530 common shares of the Company (Common Shares) issued on a "flow-through" basis (the "Flow-Through Shares") at a price of $0.58 per Flow-Through Share (the "FT Offering") and 550,000 non-flow-through units of the Company (Units) at a price of $0.50 per Unit (the "Unit Offering" and collectively with the FT Offering, the "Offerings"), resulting in aggregate gross proceeds of $2,387,667.40.

Each Unit consists of one Common Share and one-half of one Common Share purchase warrant of the Company ("Warrant"). Each whole Warrant entitles the holder, on exercise, to acquire one Common Share for a period of 12 months at a price of $0.60 during the first six months, and at a price of $0.70 during the following six months.

Tags: Stonehaven Exploration Ltd.




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