09:07:30 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Millstream Mines Ltd
Symbol MLM
Shares Issued 78,741,701
Close 2014-08-26 C$ 0.01
Market Cap C$ 787,417
Recent Sedar Documents

Millstream Mines arranges $60,000 private placement

2014-08-27 12:28 ET - News Release

Mr. Ernest Harrison reports

MILLSTREAM ANNOUNCES FINANCING

Millstream Mines Ltd. has arranged a non-brokered private placement for maximum proceeds of $60,000. The terms of the offering are as follows: a maximum of six million common shares at a price of one cent per share. The offering will be conducted by the company utilizing the existing shareholder exemption as described in Multilateral CSA Notice 45-313, Prospectus Exemption for Distributions to Existing Securityholders (published March 13, 2014), under the accredited investor exemption of National Instrument 45-106, Prospectus and Registration Exemptions, as well as under other applicable exemptions available to the company in NI 45-106.

Millstream will make the offering available to all shareholders of the company as at the date hereof, who are eligible to participate under the existing shareholder exemption and who will have notified the company by no later than 4:30 p.m. (Eastern Time) on Sept. 12, 2014, of their intention to participate in the offering. Orders will be processed by the company on a first-come-first-served basis such that it is possible that a subscription received from a shareholder may not be accepted by the company if the offering is oversubscribed. Any person who becomes a shareholder of Millstream after the record date shall not be entitled to participate in the offering under the existing shareholder exemption.

The offering is expected to close on or before Sept. 19, 2014, and is subject to regulatory approval. No commission or finders' fee will be paid by the company in connection with the offering, and the proceeds from this financing will be used to eliminate the company's working capital deficit (approximately $17,000), and for general corporate purposes (of which approximately $6,000 would be budgeted to general and administrative expenses, $31,000 for professional fees and $6,000 for miscellaneous expenses).

© 2024 Canjex Publishing Ltd. All rights reserved.