Stamper Oil & Gas Corp (TSX-V:STMP)
Shares Issued 59,099,022
Last Close 6/7/2021 $0.04
Monday June 07 2021 - News Release
Mr. Bryson Goodwin reports
STAMPER OIL & GAS CLOSES NON-BROKERED PRIVATE PLACEMENT
Stamper Oil & Gas Corp. has closed a non-brokered private placement offering, as previously announced on May 12, 2021, for total gross proceeds of $612,000.
The company has allotted and issued 20.4 million units at a price of three cents per unit. Each unit comprises one common share of the company and one transferable share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of five cents for a period of 36 months from the closing date, subject to accelerated expiry.
In the event that the company's common shares trade at a closing price at or greater than 15 centsper share for a period of 10 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company.
The company will use the proceeds from the private placement toward general working capital and as a reserve for asset acquisition investigations. All securities issued are subject to a statutory hold period of four months and one day expiring Oct. 8, 2021.
Directors, officers and insiders of the company purchased a total of 7.8 million units pursuant to the private placement. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101, pursuant to sections 5.5(c) (distribution of securities for cash) and 5.7(1)(b) (fair market value not more than $2.5-million) of MI 61-101 in respect of the participation by directors, officers and insiders of the company in the private placement. The securities were distributed for cash. There is no undisclosed material information by the company. The fair market value of the securities does not exceed $2.5-million. The company has at least one independent director and all independent directors of the company approved the issuance of securities.
About Stamper Oil & Gas Corp.
Stamper Oil is a resource company, seeking to acquire interests in mineral and/or oil and gas resource properties. The company is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.
We seek Safe Harbor.