01:35:45 EDT Mon 23 Apr 2018
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Stone Ridge Exploration Corp
Symbol C : SO
Shares Issued 16,239,500
Close 2018-01-12 C$ 0.27
Recent Sedar Documents

Stone Ridge closes $675,000 private placement

2018-01-12 19:16 ET - News Release

Mr. Robert Coltura reports

STONE RIDGE EXPLORATION CORP. CLOSES PRIVATE PLACEMENT

Stone Ridge Exploration Corp. has completed the non-brokered private placement of 13.5 million units for gross proceeds of $675,000 as announced on Nov. 23, 2017.

Each unit consists of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional share of the company at an exercise price of 10 cents per share for a period of 12 months from the date of closing.

Finders' fees were paid to registered broker dealers in connection with the private placement consisting of 1.35 million units, having the same terms and conditions as the units issued to investors. In addition to the finders' units, 1.35 million non-transferable warrants were issued to the finders. Each finder warrant entitles a finder to purchase one share of the company at a price of five cents per share until Jan. 12, 2019.

The securities issued in connection with the private placement are subject to a four-month hold period expiring May 13, 2018.

The company will use the net proceeds from the sale of the units for general working capital purposes.

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