Porcupine Hills Acreage This looks like its ready to go soon, two exploration holes East Central Saskatchewan. 294000 acres of oil and gas rights, private placement closed, ching ching. These prices won't last too long, get your shares while they are still cheap.
Saturn Minerals completes $500,000 private placement
2011-12-30 09:17 ET - News Release
Mr. Stan Szary reports
SATURN MINERALS COMPLETES PRIVATE PLACEMENT
Further to its news release dated Dec. 16, 2011, Saturn Minerals Inc. received the approval of the TSX Venture Exchange dated Dec. 29, 2011, and has closed its previously announced non-brokered private placement consisting of 2.5 million flow-through units at a price of 20 cents per flow-through unit for a gross total dollar value of $500,000.
Each flow-through unit consists of one flow-through common share and one-half non-flow-through share purchase warrant. Each full warrant entitles the holder thereof to purchase one non-flow-through common share at a price of 25 cents per share until Dec. 29, 2012. If at any time after a four-month hold period ending April 30, 2012, the closing price of Saturn's common shares on the TSX-V is greater than 35 cents for any 10 consecutive trading days, the company may deliver a notice to warrantholders that the warrants will expire on the 31st day following the date of such notice and the warrants may be exercised by the holder during this 31-day period.
In connection with the placement, the company paid a finder's fee of $9,800 and issued 49,000 finder compensation warrants. Each finder compensation warrant entitles the holder thereof to acquire one common share of the company at a price of 25 cents until Dec. 29, 2012.
All securities issued are subject to a four-month hold period ending April 30, 2012.
Proceeds from the placement will be applied to Saturn's coal exploration drilling on the company's Manitoba coal properties and the drilling of two shallow exploration wells on the company's Saskatchewan oil and gas properties.
February 15, 2011
GULF SHORES ACQUIRES PORCUPINE HILLS ACREAGE (See also Saturn Minerals Inc., TSX-V Symbol: SMI)
Gulf Shores Resources Ltd. has acquired a 25% interest in 253,920 acres of Petroleum & Natural Gas Rights in the Porcupine Hills area of East Central Saskatchewan for the purchase price of $125,000. The first test well on this block is expected to commence drilling by the summer of this year. ON BEHALF OF THE BOARD "MICHAEL TURKO" Michael Turko President & CEO For further information, please contact Mr. Gerald Otterman at (604) 683-3309. Email: info@gulfshoresresources.com; W... (1 KB