Electra Arranges Non-Brokered Private Placement
Vancouver, British Columbia - Electra Stone Ltd. (TSX Venture: ELT) (“Electra”) is pleased to announce that is has arranged for a non-brokered private placement (the “Private Placement”) of approximately 6,000,000 units (the “Units”) at a subscription price of $0.083 per Unit for gross proceeds of up to $500,000.
Each Unit will consist of one common share and one share purchase warrant.Each warrant will be exercisable into one additional common share (the “Warrant Share”) of the Company at $0.20 per Warrant Share for a period of two years from closing of the Private Placement.
The common shares issued or issuable pursuant to the Private Placement will be restricted from trading for a four month hold period in accordance with applicable securities laws and policies of the TSX Venture Exchange (the “Exchange”). Completion of the Private Placement is subject to approval of the Exchange. Finder’s fees may payable in connection with the private placement.
The net proceeds of the Private Placement will be used to advance the Company’s operations and for general and corporate purposes.
About Electra Stone
Electra Stone Ltd. is building a vertically integrated public Nephrite Jade mining, trading & marketing company. Electra is focused on international market growth and trade of Nephrite Jade from British Columbia into Asian markets with a specific focus on China. Electra also continues to operate its Apple Bay aluminum-silica quarry on Vancouver Island, which has been in continuous operation since 2003.
For further information on Electra Stone Ltd. please visit www.electrastone.comor contact: Tyler Lowes at 604-681-1568,
On behalf of the Board of Directors,
President and Director.
Forward Looking Statement
This document contains forward-looking statements.Forward –looking statements in this news release include completion of a financing and use of proceeds. Forward information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results.Factors which may prevent the forward looking statements from coming to fruition include that we may not agree on terms with the investor and we may receive not regulatory or shareholder approval. Forward-looking information is provided as of the date hereof and is based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. We assume no responsibility to update, or revise them to reflect new events or circumstances, except as required by law. For a detailed list of risks and uncertainties as it relates to Electra Stone Ltd., please refer to the Company’s 2014 Annual Financials filed with SEDAR.
Neither the 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 news release.