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).
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