Now we can move forward....and upwards.
Saturn Minerals Inc. Completes Flow-Through Private Placement
ENP Newswire - 05 February 2013
Release date- 01022013 - Vancouver - Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) is pleased to announce that it has completed a non-brokered flow-through private placement of 2,692,308 flow-through Units at a price of $0.13 per FT Unit for a gross dollar value of $350,000.04.
Each FT Unit consists of one flow-through common share and one non flow-through share purchase warrant (the 'Warrant'). Each Warrant entitles the holder to purchase one additional non flow-through common share at $0.15 per share for a period of 12 months from the date of issue of the Warrant.
All securities issued will be subject to a 4-month hold period. The offering is subject to the approval of the TSX Venture Exchange.
Proceeds from this private placement will be applied towards the completion of a seismic survey over deep basin anomalies discovered on the Company's Little Swan oil & gas properties in eastern Saskatchewan, the results of which will form the basis for the drilling of vertical exploration wells into these anomalies.
The offering was purchased entirely by a flow-through limited partnership of Stone & Co. Limited.
About Stone & Co. Limited.
Established in 1995, Stone & Co. Limited ('SCL') is an independent, 100% Canadian-owned fund company. Based in Toronto, SCL offers the Canadian investor, through financial advisors in all provinces and territories of Canada, eight mutual funds, 15 flow-through limited partnerships since 2003 and one TSX-listed investment fund.
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) is a junior Canadian energy company advancing a portfolio of oil and coal properties in Saskatchewan and Manitoba. The Company owns 370,000 acres of exclusive oil & gas rights in Saskatchewan and is advancing a number of oil exploration projects. Saturn has also made three shallow bituminous coal discoveries since 2009 with coal seams ranging in continuous vertical thickness from 9 to 89 meters.
Saturn has a strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration and development company co-founded by Saturn with a consortium of Saskatchewan First Nations active in Canada's prairie provinces.
Saturn Minerals Inc.
Suite 325 - 744
West Hastings Street
Vancouver, BC V6C 1A5
Tel: +1 (604) 685-6989
Fax: +1 (604) 685-6961