Stellar Africagold Staked New Claims in Chibougamau Camp and Closes Private Placement
December 20 2013 - 9:15AM
Marketwired
Stellar Africagold Staked New Claims in Chibougamau Camp and Closes
Private Placement
MONTREAL, QUEBEC--(Marketwired - Dec 20, 2013) - Stellar
AfricaGold Inc. ("Stellar"), (TSX-VENTURE:SPX) announces that is
has closed a non-brokered private placement December 17th 2013,
raising gross proceeds of $205,800 through the issuance of 147
units priced of $1400.00 each. Each unit consists of 17,000
flow-through common shares ($ 0.07 each) and 3000 common shares ($
0.07 each) and 20,000 common share purchase warrants entitling the
holder to purchase one additional common share, for a period of 24
months from closing, at a purchase price of $0.12 each.
The net proceeds will be used to advance Stellar's newly
acquired Opawica propertiy in Quebec and for the corporation
general working capital purposes.
About OPAWICA Property:
The OPAWICA Property consist of three blocs totalling 80 mining
cells recently acquired by the Stellar in the area of the new Liam
gold discovery on the Nelligan Project of Vanstar. It is located
approximately 45 kilometres south of the village of Chapais and is
accessible year-round by several forestry roads. A power line
crosses the South block of the Opawica property.
The Opawica property is located within the
Tomagold/Iamgold-Vanstar-Soquem working area which is to date the
most active exploration camp in Quebec. Among the most important
gold occurrences reported in the area, we note SOQUEM Meston Lake
deposit (1.2 MT @ 6.25 g/t Au), SOQUEM Philbert deposit (1.3 MT @
5.32 g/t Au), as well as numerous high grade drill and channel
sampling reported by Tomagold, Vanstar, Murgor and SOQUEM as well
as the former Joe Man gold mine that produced over 1.0 million
ounces of gold.. (See Map attached)
In connection with the private placement, no finder's fee was
paid. All securities issued pursuant to the private placement are
subject to a four-month and one day hold period and the private
placement is subject to approval by the TSX Venture Exchange.
The technical content of this press release have been
reviewed and approved by Mr. Maurice Giroux, a Qualified Person as
defined in NI 43-101.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Maurice Giroux, President and CEOStellar AfricaGold
Inc514-866-6299514-866-8096Ress.stellar@bellnet.cawww.stellarafricagold.ca
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