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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