Starcore International Mines Ltd.: Private Placement Arranged
![Starcore International Mines Ltd.: Private Placement Arranged](https://www.minenportal.de/media/goldseiten-news.jpg)
The net proceeds of the private placement will be used to repay the outstanding balance of the acquisition loan with Investec Bank (U.K.) Limited in the amount of US$3,221,041.95.
A 6% cash commission will be paid to eligible finders for such portion of the financing as may be attributable to such finders' efforts; brokers' warrants will apply to registered brokers and exempt market dealers in the form of 8% of the portion of the financing as may be attributable to such brokers' efforts.
The private placement is subject to Toronto Stock Exchange acceptance and required regulatory approvals. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.
Robert Eadie
Chief Executive Officer
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
Contacts:
Starcore International Mines Ltd.
Robert Eadie
Chief Executive Officer
1-604-602-4935 or Toll Free: 1-866-602-4935
1-604-602-4936 (FAX)
www.starcore.com