VANCOUVER, BRITISH COLUMBIA – (March 17, 2020) – Starr Peak Exploration Ltd. (“Starr Peak” or the “Company”) (TSX Venture: STE)(OTC: LSGEF) is pleased to announce that it has closed the first tranche of its private placement which was previously announced on February 13, 2020. The Company has issued 1,496,701 units at $0.30 per unit for gross consideration of $449,010. Each unit consists of one common share and one share purchase warrant with each share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $0.75 per share for a period of 24 months from closing. The Shares and Warrants are subject to a hold period expiring July 18, 2020.
In connection with the closing the Company paid a finder’s fee of 6% cash to certain finders.
Proceeds from the financing will be used for exploration costs and general working capital. The Company expects to complete the remaining portion of the private placement in the near future.
On Behalf of the Board of Directors of Starr Peak Exploration Ltd.
Chief Executive Officer 646-661-0409
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