Starr Peak Raises $3.8 Million In Strategic Financing

Starr Peak Mining (TSXV: STE) last night announced that the company has completed a strategic institutional private placement. The financing effectively saw the company raise $3.8 million via a flow through financing.

Under the terms of the financing, units of the company were sold on a flow through basis at a price of $3.60 per unit. A total of 1.0 million units have been issued, with each unit containing one flow through common share and one half of a common share purchase warrant. Each warrant is valid for a period of 18 months from closing and contains an exercise price of $4.50 per share.

Proceeds from the financing are to be used for drilling and exploration work at the firms Quebec properties.

Following the closing of the transaction, the company reportedly has a cash position of $5.3 million.

Starr Peak Exploration last traded at $3.81 on the TSX Venture.


FULL DISCLOSURE: Starr Peak Exploration is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Starr Peak Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

India’s Pre-Diwali Gold Rush Drives Global Metal Prices to Record Highs

As millions of Indians welcome the festival of lights, an unprecedented surge in precious metals...

Wednesday, October 30, 2024, 12:51:30 PM

Kinross Gold Resumes Mining Operations At Tasiast After Fire Incident, Reduces Guidance

Kinross Gold Corporation (TSX: K) announced today that work has resumed at its Tasiast mine....

Tuesday, June 22, 2021, 08:55:52 AM

SKRR Exploration Intersects 1.09 G/T Gold Over 39.80 Metres At Olson Project

SKRR Exploration (TSXV: SKRR) this morning reported the first assay results from its drill program...

Thursday, February 4, 2021, 08:51:32 AM

Exploits Discovery Receives Permits For True Grit Drill Program

Exploits Discovery (CSE: NFLD) has received full permitting for its True Grit Gold Project. The...

Wednesday, March 10, 2021, 08:29:03 AM

Karora Hits 29.8 G/t Gold Over 19.0 Metres At Spargo

Karora Resources (TSX: KRR) this morning reported initial results from its ongoing 12,000 metre drill...

Wednesday, November 18, 2020, 08:18:35 AM