VANCOUVER, BC,July 22, 2021/CNW/ -Starr Peak Mining Ltd. ("Starr Peak" or the "Company")(TSXV: STE) (OTC: STRPF) is pleased to announce that it has closed a strategic institutional private placement of Flow-Through Units at$3.85per Unit. The Company has issued 599,999 Units at$3.85per Unit for gross proceeds of$2,309,996.15. Each Unit consists of one flow-through common share and one-half of one share purchase warrant, with each whole share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of$5.00per share for a period of 18 months from closing. The financing was completed at a substantial premium to its current share price.
In connection with the closing, the Company paid a finder's fee of 6% cash to a certain finder. The flow-through shares and warrants issued are subject to a hold period expiringNovember 23, 2021.
The proceeds from the financing will be used for drilling and exploration work on the Company'sQuebecproperties. After today's closing,Starr Peak'scurrent cash position is currently in excess of$7.5 millionand currently has 39,245,144 shares issued and outstanding.
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 deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.
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