Stone Resources completes second tranche of private placement
29 11월 2011 - 9:09AM
PR Newswire (Canada)
VANCOUVER, Dec. 2, 2011 /CNW/ - Stone Resources Ltd. ("Stone" or
the "Company") is pleased to announce that is has completed the
second tranche of its previously-announced private placement,
issuing 4,769,004 common shares ("Common Shares") at a price of
CDN$0.15 per Common Share for gross proceeds of CDN$715,350.60 (the
"Private Placement"). Upon completion of the second tranche of the
Private Placement, Stone has 331,493,195 Common Shares outstanding.
The proceeds of the Private Placement were used to partially fund
the previously announced acquisition of a majority of the shares of
A1 Minerals Ltd. ("A1"), a company listed on the Australian
Securities Exchange (the "A1 Acquisition"), and for working
capital. Upon the closing of the A1 Acquisition, Stone obtained
majority control of A1 on an undiluted basis. The Common Shares
issued under the Private Placement are subject to a four-month hold
period, ending April 5, 2012. On behalf of the Board, "Yongji Duan"
Yongji Duan Chairman About Stone Resources Limited Stone Resources
Limited is a company incorporated in Bermuda and listed on the TSX
Venture Exchange in Canada. The Company is involved with mineral
resources exploration and development, and owns majority control of
the Brightstar Project, a gold exploration property in Western
Australia. Stone Resources plans to expand and develop its business
using its effective team of experts in exploration, geology,
metallurgy, mine engineering, law and finance. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Stone
Resources Limited CONTACT: Kelei XinVice-President and Corporate
Secretary+1 (604) 303-9070
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